MRC Policy Director Andrew Bragg writes in The Daily Telegraph:
Superannuation is compulsory in Australia, so you’d expect super funds to be held to the highest standards of governance, care and transparency.
Yet things are crook. Rampant governance failures exist in super funds where union power and kickbacks come before nest eggs. Payments to unions and squabbles over union board positions is enriching unions at the expense of workers, savers and retirees.