The existing arrangements are not some quaint artefact of history – it’s the predominant model used by high-performing workplace pension schemes globally. It’s used because it works.
More than 11 million Australians now have their retirement savings in a profit-to-member super fund.
The shared governance model of this type of fund – whether they arose from an industry, company or the public sector – was created with a clear and single purpose. To serve the fund members whose retirement savings they safeguard and grow.
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Misha Schubert is the CEO of the Super Members Council – a non-partisan voice advocating for 11 million Australians with their retirement savings in profit-to-member super funds, including some industry funds.
