Chanticleer
AusSuper has a $1 trillion problem. It’s working backwards to solve it
While the Australian super system deals with its first real crisis, AustralianSuper’s Paul Schroder is looking to the future, when the country’s biggest fund will face three giant challenges.
There’s a depressing aspect to the crisis that Cbus and other superannuation funds find themselves in, over how the sector is administered, which has been completely missed: It was foreseeable.
This is not to say that any fund could have perfect foresight about the troubles at third-party administration firms such as Link Group, now known as MUFG Pension & Market Services.
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