Senate debates

Thursday, 19 September 2019

Bills

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

10:41 am

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

Senator McAllister, if a member is contacted and ignores the trustee, that falls back to the member. The trustee should have email, they should have a phone, and members can be contacted in the workplace. There are lots of different ways that members can be contacted. Indeed, if trustees are meeting their best interests duty, they should be contacting their members. I don't think that information overload on young people is a good enough reason to say it's too hard and we'll simply charge members for insurance premiums for a cover that they don't want, don't need, might not know they have and possibly can't claim on.

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