Shadow treasurer Angus Taylor says Cbus chairman Wayne Swan has serious questions to answer after an independent report found the $94 billion superannuation fund failed to rigorously test whether spending on union partnerships was in the best interests of members.
“Using members’ funds to attend picnics or going to AFL grand final events is something he needs to explain to the members,” Mr Taylor told The Australian Financial Review.
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Michelle writes about wealth from our Sydney newsroom. She has more than 20 years of experience as a business journalist and is the author of Money Queens: Rule your Money, an award-winning personal finance book for teenage girls. Email Michelle at michelle.bowes@afr.com
Joanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023. Connect with Joanna on Twitter. Email Joanna at jmather@afr.com
Lucy Dean writes about wealth management, personal finance, lifestyle and leisure, based in The Australian Financial Review's Sydney newsroom. Connect with Lucy on Twitter. Email Lucy at l.dean@afr.com