• Home
  • About Us
    • Who We Are/ Testimonials
    • What We Do
    • Our Fees & Service
  • Advice
    • Wealth Creation
    • Wealth Protection
    • Wealth Preservation
    • For Women
  • Ethical Investment
    • Our Ethical Portfolios
    • Charitable Giving
  • Impact Investment
  • Not Bank Owned!
  • Blog
  • Contact Us
    • Links

Julia Gillard: a not so hidden agenda on Superannuation?

Posted on:  25 Oct 2011    Posted in:  News, Superannuation

Although we do our best not to comment on politics (!), this one can’t escape my incredulity. Check out this article by Mike Taylor of Money Management: http://www.moneymanagement.com.au/news/superannuation-bungle-shows-gillards-hand

Not a good look when the Australian Prime Minister addresses a group as “comrades”! Julia Gillard’s Socialist background has been well documented, so I won’t detail it here, however given her leanings, I expect her interest in challenging her Industry Super fund comrades to address a few key issues….so Julia, please advise:

- exactly how much of members’ funds are being spent on TV advertising? (the answer is in the multi millions, however the amount is not required to be publicly disclosed)

- exactly how much of members’ funds are being paid to Industry Super fund executives? (for example, in 2011 9 CBus executives pocketed $2.33m total…stretching the term ‘not for profit’!)

- exactly how much of members’ funds are invested in tobacco, alcohol, gambling and other unethical stocks? (refer to my Blog post of 2nd June, 2011 on Australian Super’s Monsanto investment)

- how can an industry fund with an inferior insurance offering (for example Income Protection limited only to a 2 year benefit) be suitable for all members?

- super fund Board Members need to ensure that the rights and interests of members are protected, and undertake the proper investment of assets. Whilst many Industry fund Board members have strong union backgrounds, should there be a qualification requirement that ensures Board members have some understanding of investment markets, before being appointed to the role? 

 Julia is in Perth this week for the CHOGM event – perhaps she should pop in to our office for a brief chat on these issues?

 

Search our Site

Browse by Category

  • Ethical/ RI (47)
  • Events (18)
  • for Women (7)
  • News (109)
  • Retirement (14)
  • Risk Insurance (10)
  • Superannuation (33)

Recent News

  • Top 5 Environmental Films: Ethical Investment Week 2020 Top 5 Environmental Films: Ethical Investment Week 2020
    26-10-2020
  • Saving 'Planet A' with your Super Event Saving 'Planet A' with your Super Event
    19-10-2020
  • Spotlight on Engagement: Encouraging Companies to Manage ESG Risks Spotlight on Engagement: Encouraging Companies to Manage ESG Risks
    16-09-2020
  • A Cautionary Tale: Super Funds..sometimes you get what you pay for! A Cautionary Tale: Super Funds..sometimes you get what you pay for!
    9-09-2020
  • Risk Insurance for Health Workers: Covid-19 Risk Insurance for Health Workers: Covid-19
    14-05-2020
JustInvest Financial Planning Pty Ltd is an Authorised Representative of Ethical Investment Advisers AFS Licence 276544
© 2020 JustInvest Financial Planning Pty Ltd. All Rights Reserved
  • Contact Us
  • Sitemap
TwitterStumbleUponRedditDiggdel.icio.usFacebookLinkedIn