Retail super has only 5pc of default funds

Original article by James Eyers
The Australian Financial Review – Page: 1 & 14 : 21-Jan-15

Data from Chant West indicates that industry and retail superannuation funds achieved a return of 8.6 per cent in 2014. However, industry funds dominate the list of default super funds in the modern industrial awards system. AustralianSuper is listed in 71 of the 122 awards, while SunSuper and Care Super are listed in 56 and 52 respectively. In contrast, AMP is included in just 15 awards. Financial Services Council CEO Sally Loane has called for Federal Government action to enhance competition in the sector

CORPORATES
CHANT WEST FINANCIAL SERVICES PTY LTD, AUSTRALIANSUPER PTY LTD, SUNSUPER PTY LTD, CARE SUPER PTY LTD, AMP LIMITED – ASX AMP, FINANCIAL SERVICES COUNCIL, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, MERCER INVESTMENTS PTY LTD, PERPETUAL LIMITED – ASX PPT, AON AUSTRALIA PTY LTD, THE TRUST COMPANY LIMITED, EQUITY TRUSTEES LIMITED – ASX EQT, FEDERAL COURT OF AUSTRALIA, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. DEPT OF THE TREASURY, MLC LIMITED, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, SUNCORP GROUP LIMITED – ASX SUN, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, BT FINANCIAL GROUP PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC, COLONIAL FIRST STATE GROUP LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN MANUFACTURING WORKERS’ UNION, THE AUSTRALIAN INDUSTRY GROUP, INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIA. PRODUCTIVITY COMMISSION

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