The trustees of big superannuation funds have been warned to prepare for regulators to come after them in court this year if they do not lift their game on customer service and how they use members’ money for administration, advertising and payments to unions (fin review 29/02/25)
Indeed be transparent, union controlled super funds make $30M in donations of mostly peoples super not in unions 15% of total Au workforce is in a union, fun fact a index super fund like Vanguard is 0.2-0.3% less in annual fees in fact union controlled super funds are in not in the top 30% low fees
Who cares about fees??? It's about returns - I pay high fees because mine is professionally managed by a consultant - guess what? My returns are huge comparatively 🤷🏼♀️
I care over 30 years a index fund 0.2-0.3% cheaper than a heavy hands on active fund union controlled super fund will give me a larger retirement next egg and not $15k going to ALP & Union coffers 🤔
So what? You've got the entrenched corruption of RW vested interests like Rinehart & Clive Palmer - & union representation is a problem? 15% of the workforce is far more representative than a couple of corrupt billionaires...
Comments
Putting Dutton in charge of a trillion dollar country would be 20 times worse than putting a toddler in charge of Nestlé.
In the words of PJK, he "couldn't operate a tart shop."
#GetDuttonBackOnTrack
https://en.wikipedia.org/wiki/No_such_thing_as_a_free_lunch