New super laws need sensible changes to rid the system of underperformers and ensure the disgraceful conduct unearthed by the Royal Commission does not happen again.
Unamended the Your Future, Your Super Bill lodged in Parliament today, will allow dud for-profit funds to keep underperforming without consequence and ripping more than $10 billion in profit without ever having to justify how its inflated fees are in their best financial interest of members.
Subject to changes being made to the Bill that will ensure members are better off, Industry Super Australia supports the package of reforms.
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