That's because they also tended to be directors of the big institutional shareholders; insurance and investment companies like AMP, the since defunct National Mutual and more recently, our big banks. That cross-pollination ensured criticism was kept to a minimum.
But the biggest battle took place between non profit Industry Super Funds and those run by the banks. If the years of under performance and excessive fees weren't enough, the battle was well and truly lost through the ongoing series of outrages that emerged from the Hayne Royal Commission into bank misconduct.
The steps the bank had taken in dealing with money laundering offences relating to sexual exploitation of children in the Philippines were insufficient, she told him. More was needed.
This is worrying. Basically the LNP government wants to stop company owners (us who have super) to have any say on how companies are run. Giving all the powers to executives (read LNP mates) to do whatever they want.
Supers basically a term deposit to which excuses the government from giving you the pension in the future. Its a silly idea. Instead, save money, send it to a different account offshore and still get the pension when your frail dying and still worried about buying an investment
Super change Morrison wants people to be able to use their supper for buying their first home Do you support using your money to buy a home? Albo Labor says NO
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