Industry super funds warn of savings cash grab by the big banks

THE battle to manage the retirement savings of five million Aussie workers who are currently members of not-for-profit superannuation funds has intensified. At stake is half a trillion dollars held by industry funds, which big banks want available to their retail super outlets. The industry funds are today launching a campaign aimed at politicians, warning that giving banks greater access to the savings is akin to letting foxes into the henhouse. The Federal Government is under pressure to reject attempts […]