Assistant Treasurer Stephen Jones has read the riot act to superannuation funds over poor customer service and retirement advice, warning them he has “spent the last year putting them on notice, but I won’t spend the next year doing exactly the same thing”.
The rebuke, delivered at The Australian Financial Review Super & Wealth Summit, represents the biggest division between Labor and the union-aligned industry super sector since the Albanese government’s election last May.
Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
