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Fairfax’s Michael West has written a series of great articles (here and here) examining how the Australian banks, in particular, are fattening themselves on superannuation fees:
Being a super fund manager is hard yakka. You have to sit around being showered with millions of dollars of other people’s money week-in, week-out, simply because the government has decreed that 9 per cent of Australian salaries have to go into superannuation. It’s a pain…
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.