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Submitted by john on Thu, 07/19/2018 - 13:08

Industry Super Funds must already be doing this anyway for their members cos of their superior performance over retail funds etc. That is "exist solely for the benefit of, and to protect the interests of, their members

“The best governance outcome would be to introduce a mechanism which allows members of the fund — both at the contributory/accumulation and pension recipient phase — to appoint and remove directly the directors of the trustee and hold those directors accountable to members. That is, no-one apart from members should have the decision-making power as to the appointment of directors. If members are granted the right to elect — or not elect or re-elect directors — an independent director is essentially therefore one who has been elected by members, because members are of the view that the director is acting in their best interests.

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