Industry funds demand banks and super split

Original article by Michael Roddan
The Australian – Page: 17 & 27 : 21-Aug-18

Industry Super Australia chairman Peter Collins says the banking royal commission’s revelations regarding retail superannuation funds warrant the separation of super from banking. Collins says those who thought that industry super funds might fare badly under the commission’s scrutiny got it wrong. He says the commission has shown that the industry funds sector was right to run its controversial "fox and henhouse" advertising campaign, which claimed that the $600 billion pool of default savings would be at risk if the government allowed the banks to access it.

CORPORATES
INDUSTRY SUPER AUSTRALIA PTY LTD, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, IOOF HOLDINGS LIMITED – ASX IFL, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, RESERVE BANK OF AUSTRALIA, AUSTRALIA. DEPT OF FINANCE, HOST-PLUS, LIBERAL PARTY OF AUSTRALIA, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, COLONIAL FIRST STATE INVESTMENTS LIMITED, SUNCORP GROUP LIMITED – ASX SUN, AUSTRALIANSUPER PTY LTD, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

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