There was a sting in the tail also for union backed industry superannuation funds, which have been vocally critical of the banks attempts to increase their share of the pensions market. The inquiry will explicitly look at whether members money is put to any purpose that is in the best use of members. Is disappointing that the government is seeking to deflect from the real and systemic problems plaguing the big four banks, by including the superannuation system in this inquiry, Eva Scheerlinck, chief executive officer of the Australian Institute of Superannuation Trustees said.
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