Banking Royal Commission: Superannuation hearings go from the dispiriting to the galling

19 Aug 2018

Royal Commission

Read the Analysis by ABC News business reporter Daniel Ziffer and his interview with Bradley Campbell – ‘No-one wants to investigate themselves’

The cliche of “barely scratching the surface” doesn’t even fit with summarising the super hearings at #BankingRC. One of Australia’s largest funds was specifically excluded.

Army veteran Bradley Campbell is one of 700,000 members who belong to the Commonwealth Superannuation Corporation. After his experience, having to take them to Federal Court to get a ruling on his entitlements, he is astonished it has been given a free pass from examination.
“So 10 per cent of the population no longer have that right as every other Australian, to know that their superannuation is being managed in accordance with the law and in a manner that exceeds or is at a level that the public expects?” he asked.

Mr Campbell met Prime Minister Malcolm Turnbull and asked him, in person, why the royal commission’s terms of reference specifically exclude the corporation.

Treasurer Scott Morrison responded for Mr Turnbull. In a letter, he told Mr Campbell “it is a statutory government agency operating under higher standards”.

The veteran, and other public servants unhappy with the fund, continue to agitate for it to be examined at the royal commission.

“I’ll be bold enough to say it’s a government entity — it’s like the fox investigating the henhouse massacre!” he said. “No-one wants to investigate themselves.”

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