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Superannuation body reports win despite Westpac gouging
04 Jul 2021, 08:52 GMT+10
A major superannuation lobby group says the nation s super savers earned record returns this financial year - but is refusing to say how things went for Westpac-BT s 900,000-plus members who are losing over $1.5 billion a year to systemic gouging.
The Association of Superannuation Funds of Australia (ASFA) released a statement claiming the nation s super funds had delivered exceptional benefits to members who earned average annual returns of nearly 20% .
ASFA CEO Dr Martin Fahy is quoted as saying:
Yet ASFA, which describes itself as the nation s peak research body for super has refused to provide any data whatsoever to back up that claim.