Original article by Joanna Mather, Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 31-May-18
Sources have suggested that the Australian Labor Party will continue to oppose a move to require the majority of superannuation funds’ board members to be independent. However, shadow treasurer Chris Bowen is said to be willing to support the Productivity Commission’s recommendation to shift responsibility for selecting default super funds from the Fair Work Commission to an expert panel. Meanwhile, the PC’s deputy chair Karen Chester has downplayed concerns that the super industry would be dominated by the 10 funds on the expert panel’s list.
AUSTRALIAN LABOR PARTY, AUSTRALIA. FAIR WORK COMMISSION, AUSTRALIA. PRODUCTIVITY COMMISSION, ACTU, INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY, FINANCIAL SERVICES COUNCIL