This is a very very good thing. I want to be clear that I support this 100%.

The irony is that while this review has been pushed by certain realms of politics and the retail super funds for some time, less member money going out to unions will mean the Industry Funds will wipe the floor with the retail funds in an even bigger way. Classic case of "be careful what you wish for" I reckon. Yeah, I know all the mark-to-market arguments...the problem with that is even after historical mark-to-market adjustements, the Industry Funds still absolutely hammer the retail funds in terms of performance.

An overdue and necessary stop to member money being paid to unions will ultimately mean more misery for the useless retail funds who (let's face it) really only exist to pilfer member funds in order to pay obscene salaries and bonuses to executives and investment managers...