Jane Hume (Victoria, Liberal Party, Assistant Minister for Superannuation, Financial Services and Financial Technology) | Hansard source

Thank you, Senator McAllister. As you know, we've discussed out of sight of this place that I too have a passion for an improvement in the financial literacy and capability in Australians. I think, if you reverse your cameo on its head, you might say that trustees who have a best interest duty have an obligation to better understand the situation of their members; and, while the real world, as it is, may not look like that, perhaps it should. Perhaps this legislation will encourage those trustees to take a better interest in the members that they have, to make sure that the product they're offering is entirely appropriate, rather than obfuscating that responsibility, which seems to be happening now, and relying on the opacity and complexity of this industry to simply reap the fees for insurance premiums that these people possibly don't want, don't need, might not be able to claim on and don't understand.