Labor slams attack on union super

Original article by John Kehoe, Joanna Mather, David Marin-Guzman
The Australian Financial Review – Page: 1 & 4 : 11-Jan-19

Shadow treasurer Chris Bowen has criticised the Productivity Commission’s proposed changes to the default superannuation fund regime. He says restricting the default fund to a list of the 10-best performing funds is problematic, as returns can vary significantly over a period of time. The PC’s key recommendation is opposed by labour unions, while the Financial Services Council and the Association of Superannuation Funds of Australia have also expressed reservations. However, Treasurer Josh Frydenberg says the proposal has merit and is worth considering.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. PRODUCTIVITY COMMISSION, FINANCIAL SERVICES COUNCIL, THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE TREASURY, COUNCIL OF SUPERANNUATION CUSTODIANS, SUPERANNUATION CONSUMERS’ CENTRE, BT FINANCIAL GROUP PTY LTD, WESTPAC BANKING CORPORATION – ASX WBC

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