Senate debates

Thursday, 19 September 2019

Bills

Treasury Laws Amendment (Putting Members' Interests First) Bill 2019; In Committee

10:38 am

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

Senator McAllister, I understand exactly where you're coming from. But, quite frankly, as I mentioned before, I worked in this industry, and one of the problems that trustees have or the industry complains about is disengagement. One of the things that this chamber complains about is disengagement from the superannuation system. Surely you would think that the superannuation funds would want to reach out to their members, would want to find out more about them, would want to take this opportunity. That's exactly what we've asked them to do. I agree with you; I am puzzled, bewildered and surprised why anybody should be resisting this opportunity to understand more about their members, because that's part of their best interests duty. The winners here are the members. That's who we're here for.

Comments

No comments