Michaelia Cash (WA, Liberal Party, Minister for Women) Share this | Hansard source

AustralianSuper holds the retirement savings of hardworking Australians on trust. Its directors have a special duty to put the interests of working Australians above all other interests. Australians need to have confidence that their superannuation savings are being held for their retirement, not paid to unions for partisan purposes.

As I mentioned yesterday, over $53 million has been paid by industry superannuation funds to unions over the past 10 years. Over the same period nearly $65 million has been paid by unions to the Australian Labor Party. So payments from industry superannuation funds account for an amount equivalent to 82 per cent of the funds paid by unions to the Labor Party. We need to ensure Australians have faith in their super funds.