As always, the Liberal Party wants to destroy industry super — and its latest legislation is still skewed despite two key weapons being removed.
The Morrison government’s latest attack in industry super, its Your Future, Your Super reforms, has suffered some major blows.
In April, point woman on the attack, Superannuation Minister Jane Hume, was forced to abandon the most blatantly targeted aspect: the omission of administration fees from the planned fund benchmarking tool (a U-turn hilariously spun by government stenographers as a triumph for consumers).
Then last week, simply to secure passage through the House of Representatives, Treasurer Josh Frydenberg caved in on the other primary mechanism designed to target industry funds: a personal power of veto over super investments.
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