On superannuation and independence
Andrew Whiley writes: Re. "Mayne: time for a citizen jury to sort out industry fund governance" (July 3). Regrettably Stephen Mayne has decided to throw red herrings left and right rather than respond to the thrust of my comments. Just to net some of those lively fish and tag them with some facts: In his first piece Mayne states, "we got hundreds of sub-scale funds and created a gravy train of board fees pocketed by every last union powerbroker." The latest figures from Australian Prudential Regulatory Authority as of February 2015 record at total of 42 Industry Funds. Not quite the "gravy train" as portrayed.