Rear Window

Industry super funds have problems they won’t even acknowledge

Even as yet another fund publishes a review questioning its governance processes, the industry super lobby group is launching director courses.

Hannah WoottonColumnist

Jul 2, 2025 – 6.21pm

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When the Australian Prudential Regulation Authority ordered industry super funds Cbus and BUSSQ to undertake independent reviews into their governance and spending in light of the CFMEU corruption scandal last August, they didn’t take it well.

Cbus grinned and bore it. Other than chairman Wayne Swan accusing the fund’s “hysterical” critics of “raw politics”, that is. BUSSQ, which has 70,000 members (mostly builders), took the super regulator to court, objecting to the intervention. It unsurprisingly failed.

Hannah Wootton is a Rear Window columnist, based in Melbourne.