21 March 2012 16:26
The not-for-profit superannuation movement should promote the strengths of its representative trustee system amid criticism that it lacks independence and professionalism, CMSF 2012 heard.
Steve Bracks, former Victorian premier and current chair of Cbus, said the representative trustee system not only delivered good oversight but also brought union and employer group officials with skills in various disciplines to fund boards.
Follow our coverage from day one and two of CMSF 2012 :
The $237 billion megafund says that it’s ready for more mergers but that it won’t be a “buyer of complexity” in an already rapidly consolidating super system – even as it reverse the competitive outflow trend that has dogged profit-to-member super for years.
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