TWU

Political

Coalition MP Continues His Fact Free Attack On Industry Super Funds


Federal Liberal MP Paul Fletcher’s recent fact-free attacks on the integrity of TWU Super and industry superannuation funds is another example of his opposition to industry super funds where working people actually have a voice, said TWU National Secretary Tony Sheldon.

TWU MEDIA RELEASE, 19 July 2013

Tony Sheldon said, “Mr Fletcher has a long standing agenda against industry super funds, which are run exclusively to provide security and dignity in retirement for members and their families.
 
“Mr Fletcher and his colleagues don’t want working people to have a say in the way their retirement funds are managed, because they don’t think workers can be trusted. He would rather his mates in the big corporate funds and in the boardrooms of companies like Qantas had all the power and the rest of us kept quiet.
 
“The TWU will always demand the very best for our members - whether that's campaigning against poor management and an anti-worker agenda of a company like Qantas or making sure our members and their families have dignity in retirement.
 
“Why Mr Fletcher chooses to hold up the disastrous management strategy of Qantas as successful is anyone’s guess - unless he is dancing to the tune of Qantas Chairman Leigh Clifford.
 
“The ‘changes’ imposed under the disastrous leadership of Chairman Clifford, resulted in Qantas posting its first loss in 17 years last year, losing $245 million. Thousands of Australians have lost their jobs and international routes have been slashed.
 
“Mr Fletcher knows full well that industry super funds have an equal balance of employer and employee representatives. All of the directors at TWU Super, including the independent Chairman, are focused on ensuring security and dignity in retirement for transport workers and their families.
 
“TWU Super is consistently within the top quartile of Super funds, far outperforming the majority of the big corporate funds Mr Fletcher and his Coalition mates are so concerned with spruiking.
 
“Instead of trying to slander industry funds with smear and baseless allegations, Mr Fletcher should be getting his mates in the big corporate funds to lift their performance to the same levels as their industry fund competitors,” concluded Tony.

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