A key architect of the compulsory retirement savings system lauds its many achievements, stretching from the national economy to the individual. Where it’s double faulting is in serving members – and it needs to be addressed promptly.
With performance and diversification driving demand, these funds are expected to experience four-fold global growth over the next decade to nearly $AU65 trillion.
Thank you Adele Ferguson, and Fairfax
Comment by Greg Bright
Today, every newspaper, every newsletter, every news website in Australia will blast its readers with more news and views on the Royal Commission. The only view I’d like to read is that of Adele Ferguson.
Journalism is not what it used to be, but, thank heavens, there are still some proper journalists and proper publishers going about their business. There is Adele Ferguson, for instance, awarded an AM (Member in the General Division of the Order of Australia) on Australia Day for her good work, and there is Nine (the company formerly known as Fairfax) which has enabled her to do that good work. And there is our ABC too, which helped her along her way.
Adele Ferguson, with the patronage of Fairfax, spent years listening to sorry tales of bank customers. She railed against the banks. She was criticised by the Federal Government which refused to believe what is now obvious. She stayed the course and, as a result, did her country, our country, a great service.
She, also thanks to the influence of her publisher, discovered whistle blowers, such as the Commonwealth Bank’s Jeff Morris, and other brave people prepared to tell their stories. And their stories were shocking.
The Hayne report to be tabled today is unlikely to surprise anyone. We have all heard too much already. And I can’t add any more of much value to what we’ve already heard. Sorry.
