So, Labor wants to wind back reforms on Superannuation by
removing requirement that funds be accountable “..to the best financial
interests of their members..”. This begs
the question, in whose interests would they become? It would appear from the article it is the
fund directors and as many funds are company or union funds monies could be
directed to politicians, political parties or to themselves, who undertake
worldwide travels under the auspices of looking for investment opportunities,
just not the best for the members. Remember
the Future Fund, which removed huge chunks of public monies into superannuation
benefits for politicians and public servants?
