The new group combines Industry Super Australia and Australian Institute of Superannuation Trustees and represents more than $1.4 trillion in assets.
The marriage of the more politically and union-aligned AustralianSuper, Cbus, HESTA, REST and Hostplus with the historically less Labor-linked UniSuper, Aware and ART also indicates that big super is becoming aThe SMC will have significant lobbying power to government and industry, given that it will represent more than $1.4 trillion in the retirement savings of more than 10 million people.
“The nature of work and the workforce itself are changing, as are patterns and expectations in retirement. As many members’ balances grow, those in lower paid or less secure work risk being left behind,” she said.“Our promise is member-centric advocacy that seeks to work with all political parties to deliver the best possible retirement outcomes for the millions of Australians we represent.
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