Australian Politics Forum - Unions oppose votes for super fund members

bogarde73

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Unions oppose votes for super fund members
Jan 27^th, 2016 at 6:03am

A plan has come forward recommending that members of nonprofit super funds be given the power to vote for their board members, much like shareholders in companies.

The idea has been rejected by the unions, greedy to retain their sinecures and influence over members' funds.

Another example of the union tradition of suppressing democracy.
SMH.

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Know the enemies of a civil society by their public behaviour, by their fraudulent claim to be liberal-progressive, by their propensity to lie and, above all, by their attachment to authoritarianism.

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Armchair_Politician Gold Member Offline Australian Politics Posts: 28509 Gender:	Re: Unions oppose votes for super fund members Reply #1 - Jan 27^th, 2016 at 6:21am Doesn't surprise me.
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Dnarever Gold Member Offline Australian Politics Posts: 61265 Here Gender:	Re: Unions oppose votes for super fund members Reply #2 - Jan 27^th, 2016 at 6:32am Why would you want to change the way the best performing superannuation funds are structured to copy those who perform much worse every single year ?
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Dnarever Gold Member Offline Australian Politics Posts: 61265 Here Gender:	Re: Unions oppose votes for super fund members Reply #3 - Jan 27^th, 2016 at 6:40am Industry super funds have outperformed private funds by 1.5% on average this year and the story is similar every year. Looking at the article it seems that there is no comment that does not come from someone with a vested interest in getting their hands on more superannuation funds.
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cods

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Re: Unions oppose votes for super fund members
Reply #4 - Jan 27^th, 2016 at 7:10am

Dnarever wrote on Jan 27^th, 2016 at 6:40am:

Industry super funds have outperformed private funds by 1.5% on average this year and the story is similar every year.

Looking at the article it seems that there is no comment that does not come from someone with a vested interest in getting their hands on more superannuation funds.

have you the link... you dont see anythign wrong with Unions saying its compulsory for their members to belong to their superfund...once you join a union you join more than that apparently....I find that UNAustralian to be honest.

freedom of speech and freedom of choice has always been my mantra.....

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Its time

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Re: Unions oppose votes for super fund members
Reply #5 - Jan 27^th, 2016 at 7:26am

cods wrote on Jan 27^th, 2016 at 7:10am:

Dnarever wrote on Jan 27^th, 2016 at 6:40am:

Industry super funds have outperformed private funds by 1.5% on average this year and the story is similar every year.

Looking at the article it seems that there is no comment that does not come from someone with a vested interest in getting their hands on more superannuation funds.

have you the link... you dont see anythign wrong with Unions saying its compulsory for their members to belong to their superfund...once you join a union you join more than that apparently....I find that UNAustralian to be honest.

freedom of speech and freedom of choice has always been my mantra.....

I choose to earn on average 1.5% more than your super

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innocentbystander. Gold Member Offline Australian Politics Posts: 4723 Gender:	Re: Unions oppose votes for super fund members Reply #6 - Jan 27^th, 2016 at 8:48am Dnarever wrote on Jan 27^th, 2016 at 6:40am: Industry super funds have outperformed private funds by 1.5% on average this year and the story is similar every year. Subsidised by taxpayers no doubt ... think green energy schemes and other government boondoggles.
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macman

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Re: Unions oppose votes for super fund members
Reply #7 - Jan 27^th, 2016 at 9:02am

bogarde73 wrote on Jan 27^th, 2016 at 6:03am:

A plan has come forward recommending that members of nonprofit super funds be given the power to vote for their board members, much like shareholders in companies.

The idea has been rejected by the unions, greedy to retain their sinecures and influence over members' funds.

Another example of the union tradition of suppressing democracy.
SMH.

A link would be nice Bogie so we could decide for ourselves.

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macman Gold Member Offline Australian Politics Posts: 2435 australia Gender:	Re: Unions oppose votes for super fund members Reply #8 - Jan 27^th, 2016 at 9:05am think green energy schemes and other government boondoggles. Think better investment managers and no massive fees.
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bogarde73

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Re: Unions oppose votes for super fund members
Reply #9 - Jan 27^th, 2016 at 9:26am

Dnarever wrote on Jan 27^th, 2016 at 6:32am:

Why would you want to change the way the best performing superannuation funds are structured to copy those who perform much worse every single year ?

The margin that accrues to industry funds by not paying out profits or commissions would not be affected by allowing fund members to have a vote on who sits on the board.
Your comment is just a deflection.
The truth is unions are based on a collective philosophy and freedom of choice is frowned upon.
But this is 2016 and people want these human rights about who sits on their super boards.
By what possible argument do the unions claim the right to oppose this freedom of choice?

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Know the enemies of a civil society by their public behaviour, by their fraudulent claim to be liberal-progressive, by their propensity to lie and, above all, by their attachment to authoritarianism.

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macman Gold Member Offline Australian Politics Posts: 2435 australia Gender:	Re: Unions oppose votes for super fund members Reply #10 - Jan 27^th, 2016 at 11:18am How is that link coming along Bogie?
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Dsmithy70

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Re: Unions oppose votes for super fund members
Reply #11 - Jan 27^th, 2016 at 11:20am

bogarde73 wrote on Jan 27^th, 2016 at 9:26am:

Dnarever wrote on Jan 27^th, 2016 at 6:32am:

Why would you want to change the way the best performing superannuation funds are structured to copy those who perform much worse every single year ?

The margin that accrues to industry funds by not paying out profits or commissions would not be affected by allowing fund members to have a vote on who sits on the board.
Your comment is just a deflection.
The truth is unions are based on a collective philosophy and freedom of choice is frowned upon.
But this is 2016 and people want these human rights about who sits on their super boards.
By what possible argument do the unions claim the right to oppose this freedom of choice?

I bet you cant name a board member of your superfund without now going to your AGM notes.

I find it quite amusing how your fear the unions collective thinking but seem to love the big4's operating like a cartel.

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REBELLION is not what most people think it is.
REBELLION is when you turn off the TV & start educating & thinking for yourself.
Gavin Nascimento

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bogarde73

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Re: Unions oppose votes for super fund members
Reply #12 - Jan 27^th, 2016 at 11:24am

Dsmithy70 wrote on Jan 27^th, 2016 at 11:20am:

bogarde73 wrote on Jan 27^th, 2016 at 9:26am:

Dnarever wrote on Jan 27^th, 2016 at 6:32am:

Why would you want to change the way the best performing superannuation funds are structured to copy those who perform much worse every single year ?

The margin that accrues to industry funds by not paying out profits or commissions would not be affected by allowing fund members to have a vote on who sits on the board.
Your comment is just a deflection.
The truth is unions are based on a collective philosophy and freedom of choice is frowned upon.
But this is 2016 and people want these human rights about who sits on their super boards.
By what possible argument do the unions claim the right to oppose this freedom of choice?

I bet you cant name a board member of your superfund without now going to your AGM notes.

I find it quite amusing how your fear the unions collective thinking but seem to love the big4's operating like a cartel.

You're right, I can't. But then I'm not in a super fund.
There's nothing amusing about my attitude to today's unions, it's quite serious.
Now, how about you address the fundamental issue here of democratic choice for members.

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Know the enemies of a civil society by their public behaviour, by their fraudulent claim to be liberal-progressive, by their propensity to lie and, above all, by their attachment to authoritarianism.

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Dsmithy70

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Re: Unions oppose votes for super fund members
Reply #13 - Jan 27^th, 2016 at 11:34am

bogarde73 wrote on Jan 27^th, 2016 at 11:24am:

Dsmithy70 wrote on Jan 27^th, 2016 at 11:20am:

bogarde73 wrote on Jan 27^th, 2016 at 9:26am:

Dnarever wrote on Jan 27^th, 2016 at 6:32am:

Why would you want to change the way the best performing superannuation funds are structured to copy those who perform much worse every single year ?

The margin that accrues to industry funds by not paying out profits or commissions would not be affected by allowing fund members to have a vote on who sits on the board.
Your comment is just a deflection.
The truth is unions are based on a collective philosophy and freedom of choice is frowned upon.
But this is 2016 and people want these human rights about who sits on their super boards.
By what possible argument do the unions claim the right to oppose this freedom of choice?

I bet you cant name a board member of your superfund without now going to your AGM notes.

I find it quite amusing how your fear the unions collective thinking but seem to love the big4's operating like a cartel.

You're right, I can't. But then I'm not in a super fund.
There's nothing amusing about my attitude to today's unions, it's quite serious.
Now, how about you address the fundamental issue here of democratic choice for members.

If members don't care who is on the board, why should they care about how they got there?

All members care about is how much money they've made, and as you keep being told EVERY TIME you try & bash unions through Super, Unions outperform your commercial interests.

It's like the 24/7 economy argument on penalty rates, I went to my bank yesterday, it was closed, I phoned my local member at 11.30am & it went to message bank, I phoned my business banker at 1.30am this morning to discuss an idea- he seemed pissed & disinterested Wink

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REBELLION is not what most people think it is.
REBELLION is when you turn off the TV & start educating & thinking for yourself.
Gavin Nascimento

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lee

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Re: Unions oppose votes for super fund members
Reply #14 - Jan 27^th, 2016 at 11:41am

macman wrote on Jan 27^th, 2016 at 9:05am:

think green energy schemes and other government boondoggles.

Think better investment managers and no massive fees.

What union apparatchiks have degrees in anything related to investments?

'At the moment, industry funds have gerrymandered boards where control is shared 50-50 between unions and employer groups.

But there is no one representing businesses or employees who are not members of said union or employer group, and many funds still have no independent directors at all.

Returns to members from industry funds have indeed been better than the for-profit retail funds largely controlled by the banks, but this has mainly come from the no- or low-fee model in the not-for-profit sector.'

http://www.crikey.com.au/2015/06/29/mayne-keane-is-wrong-independent-directors-a...

From Crikey, so I guess it must be correct.

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