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AustralianSuper braced for banks to get access to default market

Sally RoseReporter
Updated

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Nine of the 10 superannuation funds with the most access to the almost $500 billion default market are union-aligned. The country's largest industry fund, AustralianSuper, is the biggest beneficiary.

Bank-aligned and other retail funds, eager for a bigger slice of the pie, want a new government-appointed review into the sector to recommend a more "level playing field".

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Sally Rose is a Sydney-based reporter, who covers business, personal finance and superannuation. Connect with Sally on Twitter.

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    Original URL: https://www.afr.com/policy/australiansuper-braced-for-banks-to-get-access-to-default-market-20160921-grl5p3