“The appointment of an independent chair and directors, proposed by Assistant Treasurer Hon. Josh Frydenberg MP, will build on the strength of the current industry superannuation representation model, according to Master Builders Australia.
“The Board of Master Builders Australia supports these reforms to ensure that industry super funds continue to provide the best possible outcomes for members’ retirement incomes,” Wilhelm Harnisch CEO of Master Builders Australia said.
“Master Builders Australia is a strong supporter of industry superannuation as a vehicle for providing workers in the construction industry with retirement income. The industry superannuation equal representation model has played a positive role in super funds delivering positive investment outcomes for members,” he said.
“As it matures, the superannuation industry will approach $3 trillion in funds under management. It is important that there continues to be a high level of governance to maintain integrity and confidence in the superannuation system,” Wilhelm Harnisch said.