Jan 19, 2018

Industry super blitzes retail, which is bad news for the Coalition’s war on unions

Alarm bells will be ringing with the Liberals as industry super stretches its lead over retail super in returns for members.

Bernard Keane — Politics editor

Bernard Keane

Politics editor

The annual round-up of fund performance across the superannuation sector will alarm the government because of what appears to be a growing gap between the performance of industry super funds and retail super funds.

A review of fund performance by Chant West shows strong returns for the whole sector in 2017, which is good news for every Australian with a super fund. Its top ten major performers list was dominated by industry super funds, which are run by nominees of employer groups and trade unions.

Free Trial

You've hit members-only content.

Sign up for a FREE 21-day trial to keep reading and get the best of Crikey straight to your inbox

By starting a free trial, you agree to accept Crikey’s terms and conditions


Leave a comment

8 thoughts on “Industry super blitzes retail, which is bad news for the Coalition’s war on unions

  1. Sleuth

    The LNP coalition should change it’s name to better reflect their “values” to The Corporate Coalition. The best politicians that money can buy.

    1. [email protected]

      Please leave that comment on twitter it is so apt I hope You don’t mind if I use it once in awhile Thanks Kaaren

  2. Rais

    It’s disgraceful that the industry super funds corruptly fail to siphon off members’ contributions to overpaid CEOs. Something should be done about it.

    1. [email protected]

      If the LNP’s Scott Morrison could find a way He’d do it!!!!!!!!!!

  3. Bill Hilliger

    And yes folks, Kelly “I’m the dolt from Higgins” O’Dwyer wants to do to Industry Super funds what Tony rAbbott his then flunkey Malfeasance Turnbull did to the NBN. A total NBN fuck-up. It looks as if the successful Industry Superfunds are in for the same LNP we’ll fuck it up treatment. As for an economic crime against hard working Australians the Malfeasance Turnbull NBN policy must surely take the cake.

  4. Weiveinhope

    Don’t they hate it that they can’t steal that money from that big honeypot.

  5. klewso

    That’s why they have to nobble it – management tainted by inclusion of “workers” being able to manage better than “big biz” professionals?
    What this could mean to the rest of civilisation as we know it.
    All those on such obscene wages (for such lean comparative productivity?) being outdone by the hoi polloi?
    They have to open these funds to pillaging by the corporate sector/donors – for a return on their “investment”?
    Meanwhile Rupert’s media throwbacks are devoted to one side of politics – pimping his/Turnbull’s Limited News Party. “Battler” Rupert who rails against “the establishment” while ensconced deep within it’s affluent bosom.
    With his foreign entity meddling in Australian politics to produce an electoral outcome : but in this circumstance that’s all right with Malfoy Turnbull.

  6. Ken Gratton

    After a lacklustre 10-year period of poor returns from AMP, I switched to Australian Super four years ago and haven’t looked back. I was able to compare my wife’s returns through Australian Super with my own returns from AMP. The two were chalk and cheese.

Share this article with a friend

Just fill out the fields below and we'll send your friend a link to this article along with a message from you.

Your details

Your friend's details