It’s time to end union stranglehold on industry super funds

Paul Schroder at the National Press Club: Super funds are not a government 'piggy bank'.

Government interference in investment decisions would be a ‘disaster’ for members, he argued, and here Schroder hits the nail on the head. Super funds must remain independent, focused on delivering returns to everyday Australians rather than bending to Canberra’s whims. His vision of super as an ‘engine room’ for national prosperity – investing in housing, energy transitions, and infrastructure on a risk-adjusted basis – is at least workable, provided it’s not dictated from above.

Yet, for all his talk of modernisation and adapting to ‘changes in society’, Schroder’s address curiously sidestepped the most glaring anachronism in the room: AustralianSuper’s own governance structure.

My latest in The Spectator Australia, It’s time to end union stranglehold on industry super funds.

Super isn’t a piggybank for politicians. But nor should it be a slush fund for union agendas. If we’re to reimagine prosperity, as he urges, let’s start by modernising the boards that control $4.3 trillion of Australian’s hopes and dreams for the future.https://t.co/xL4fJLBsXz

— The Spectator Australia (@SpectatorOz) September 5, 2025