The Turnbull government won’t say if it backs a call for it to assume control of billions of dollars in workers’ compulsory superannuation contributions now being managed by banks and industry funds
Former treasurer Peter Costello is critical of the way default funds are being run and wants a new government agency to instead invest the money
About $2.3 trillion in workers’ super is sitting in private accounts as part of the former Keating government’s compulsory superannuation system and is expected to earn $23 billion in fees.
“There is a fair argument that these compulsory payments should be allocated to a…
He suggested Canada’s Pension Plan Investment Board offered a…