Financial Standard Comments - Highest paid execs in super revealed

Comment by money maven (money maven enterprises)

money maven (money maven enterprises) — Thu, 06 Nov 2014 13:16:13 +1100

These amounts are extremely high particularly given the sameness of many of these funds and their historical roots in trade unions. Over a million bucks to do your best to perform like everyone else and pretending to look after the workers? Wow....

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Comment by Bill Brown (Estateforethought)

Bill Brown (Estateforethought) — Thu, 06 Nov 2014 13:22:16 +1100

We don't pay commissions

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Comment by Craig Yates (Lifestyle Financial Group)

Craig Yates (Lifestyle Financial Group) — Thu, 06 Nov 2014 13:31:31 +1100

Industry Super Funds....only run for the benefit of our members!!

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Comment by John Haster (John Haster & Associates)

John Haster (John Haster & Associates) — Thu, 06 Nov 2014 14:13:43 +1100

Two things come to my mind.
1 - We have all seen the commercials showing a large hand in the pockets of superannuation Funds members. From reading this article one has to wonder who's hands are these?
2. Considering the earnings of most members of the above mentioned Funds, isn't it disgraceful to see the enormous gap?

Most members, if not all, will never see in their lifetime, an amount as large as the amounts "earned" by these executives in a year.

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Comment by Murray Farquhar (Curious onlooker)

Murray Farquhar (Curious onlooker) — Thu, 06 Nov 2014 14:27:44 +1100

It is amazing the lengths some funds go to to hide their disclosures on their website but you can find it after about 20 minutes of searching under "Relevant Disclosures".

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Comment by George Orwell (Ministry of Truth)

George Orwell (Ministry of Truth) — Thu, 06 Nov 2014 14:36:24 +1100

Animal Farm is as relevant today as ever!

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Comment by Gratuitous Adviser (Retired)

Gratuitous Adviser (Retired) — Thu, 06 Nov 2014 16:57:41 +1100

Granted, these salaries (over $400K in my opinion) are excessive but let's see some salaries (profit margins) for financial advisers, banks and retail fund senior management.

No matter how the above contributors spin it, individual retirement benefits are maximized if you are a member of an industry fund. This includes SMSF and retail funds. Read some Alan Kohler for his opinion on Retail Superannuation Funds and Retirement Villages. It's especially enlightening for retirees.

The stats say it all and the Government are committing a crime against the community is they continue on their present course of destroying the non-profit essence of industry funds, in favour of the big banks.

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Comment by Super Insightful (FiscallyFab)

Super Insightful (FiscallyFab) — Thu, 06 Nov 2014 23:36:09 +1100

And now for the retail funds salaries please?

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Comment by Ross Cardillo (Ross Cardillo Financial Services)

Ross Cardillo (Ross Cardillo Financial Services) — Mon, 10 Nov 2014 11:59:17 +1100

But Industry Super Funds claim they have low fees and are run entirely for the benefit of members.

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Comment by I'llhave Someofthat (The Edge of Reality)

I'llhave Someofthat (The Edge of Reality) — Mon, 10 Nov 2014 17:05:30 +1100

To Gratuitous Adviser - please explain how retirement benefits are maximised, when a decent, low-cost Retail Super fund with a SIMILAR investment/asset mix perform much the same. This is the fallacy perpetuated by millions of dollars spent on advertising.

Oh yes, ask AK. Like he doesn't have his own barrow to push? Just because he is on the (severely biased) ABC doesn't mean anything these days. I don't expect we will see this article appear on a poorly disguised 'Consumer benefit' program.

I suppose on top of the salaries, you'd add the benefits like the numerous visits to the corporate boxes at various sporting stadiums etc. More like 'Run to benefit Fund and Advertising Execs'.

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