Retirement
Consumer body launched to tackle super fund lobbying
An Australian-first independent superannuation consumer advocacy organisation has formally launched today, with the body purporting itself as taking on the $42 million super lobby.
Consumer body launched to tackle super fund lobbying
An Australian-first independent superannuation consumer advocacy organisation has formally launched today, with the body purporting itself as taking on the $42 million super lobby.
CHOICE’s Super Consumers Australia has been established to advance and protect the interests of the nation’s low and middle-income earners in the superannuation system.
According to a statement, the organisation will advocate for consumers through deliverance of research, journalism and policy development targeted at making the superannuation system work better for people.
Previously the Super Consumers’ Centre, today’s launch of Super Consumers Australia coincides with the release of research from the organisation that has revealed more than two-thirds of Australians want an independent group to represent their rights in the superannuation sector.
Commenting on the launch, the organisation’s acting director, Xavier O’Halloran, said that this “is an important day for all Australians with superannuation”.
“From now on, when decision-makers are debating what to do with your retirement savings, there will be a voice in the room advocating for your interests,” he continued.
“The superannuation body is using your retirement savings to lobby against your interests.”
Super Consumers Australia has noted that domestically, there are four major superannuation industry lobby groups representing fund trustees, with combined budgets in excess of $42 million.
“There has been little dedicated consumer representation in superannuation policy for far too long,” Mr O’Halloran said.
“We will be keeping the industry on its toes.
“Trustees need to be held accountable for decisions that end up costing members money.”
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