03/04/2012
Without union involvement in superannuation, we may never have stamped out hidden fees paid to financial advisors on compulsory superannuation contributions.
And, instead of employee and employer representatives on boards, we would have ended up with a lot more super funds run by the corporate “experts” who brought us the GFC.
Fiona Reynolds is the CEO of AIST
There is broad consensus in industry and Canberra that the collapses of the Shield and First Guardian master funds – and failures that led to them – demand a regulatory response. But getting that response wrong could create an uneven playing field in the industry and some counterproductive consumer outcomes.
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