It’s only one word – inserting ‘financial’ between ‘members’ and ‘best interests’ – that should kill off much of the political correctness that is corrupting Australia’s multi-trillion fund management industry. Under the fiercely criticised ‘Your Super Your Future’ legislation to operate from this July, superannuation trustees (of particular relevance to union-controlled Industry Super Funds) will no longer be able to splurge their members’ compulsory superannuation contributions on such non-financial (and politically oriented) follies as starting the New Daily newspaper or social agenda campaigns unrelated to the ‘financial best interests’ of their members.
Already a subscriber? Log in
Subscribe for just $2 a week
Try a month of The Spectator Australia absolutely free and without commitment. Not only that but – if you choose to continue – you’ll pay just $2 a week for your first year.
- Unlimited access to spectator.com.au and app
- The weekly edition on the Spectator Australia app
- Spectator podcasts and newsletters
- Full access to spectator.co.uk
Unlock this article
You might disagree with half of it, but you’ll enjoy reading all of it. Try your first month for free, then just $2 a week for the remainder of your first year.
Comments
Don't miss out
Join the conversation with other Spectator Australia readers. Subscribe to leave a comment.
SUBSCRIBEAlready a subscriber? Log in