Twenty years ago unions won super as a right for all Australian workers and set up industry super funds to look after the retirement savings of their members. Since then, industry super funds have gone from strength to strength whilest retaining their philosophy to maximise the superannuation of members. Superannuation and industry super funds are an achievement that unions are rightly proud of.

In 1985 only 39% of the workforce had super – now 97% of workers have super. For many people super is now the second biggest asset after the family home.

There are now well over 5 million members in “all profits to members” industry super funds which unions jointly created with employers, managing over $120 billion of worker’s super .

Key features of industry funds:

• Industry funds are run only to profit members, not shareholders.
• Industry funds were established by unions to give all workers the right to super.
• Industry funds have equal numbers of member or union elected representatives and employer reqpresentatives on trustee boards.
• Industry funds have lower average fees than retail funds and don't pay commissions to financial planners and accountants.
• Industry funds have a history of strong long-term investment performance.
• Industry funds focus on innovative investment options.

For more information visit The Industry Super Funds Website.