UniSuper chief executive Kevin O’Sullivan says a move to open up the industry fund to workers beyond its traditional higher education base reflects a need for funds to bolster member returns by increasing their size.
From July, any worker will be able to join the $95 billion superannuation fund. Until now, membership had been limited to workers in higher education and research, along with their families.
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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
