Cbus said the system was too complex,and as a result,its members,whose super balances are lower than the average population,were financially worse off.
Cbus says superannuation ‘stapling’ has failed,causing more harm than good,and calls for an overhaul of the policy.
Growth superannuation investment options recouped almost all of their losses of the 2021-22 financial year in July.
McDonald instigated stronger health and safety practices and better working conditions in the building sector,and made a great contribution to wellbeing.
The two super funds have signed a memorandum of understanding after leadership turmoil at EISS Super and pressure from the regulator.
EISS staff have been warned there will be job losses and possible re-deployments once the $6 billion fund is taken over by construction giant Cbus.
Commercial real estate investors have roared back into the shopping centre market,snapping up $4.52 billion worth of assets in anticipation the pandemic-hit sector will rise again.
Crossbenchers are pushing for major amendments while fund bosses say powers in the bill could have “catastrophic” effects on workers’ retirement balances.
A super fund for electrical workers could merge with one for the transport industry,but union politics looms on the horizon.
James Charisiou allegedly used faked documents to dupe two major investment houses into thinking he was working with Lendlease and CBUS Property.
The country’s largest office landlord is increasing its stake in the 1 Bligh Street,Sydney skyscraper through a new joint venture with a Singapore-based investment fund.