David Pocock (ACT, Independent) Share this | Hansard source

I rise to foreshadow that I will be voting for the amendments moved by the government and the coalition. Australians all deserve to be in a high-performing superannuation product. If they're not, they at least deserve to know that they're not. They should be armed with as much information as possible.

I support the coalition amendments to put back into place the annual member meeting notices and to move them into primary legislation. I think this is an important step as the current regulations, as I have said previously, are not ideal. In amending the regulations, the parliaments had limited time to provide scrutiny before they came into effect ahead of the reporting season. So effectively most of the super funds have reported and have not had to disclose at that level of transparency. When it comes to faith based super, I have real concerns about those sorts of carve-outs and believe that they should be addressed alongside ESG or more ethical focused funds as part of the broader review—and I'm pleased to see the government has introduced an amendment. As we know, the coalition's would have got up on the numbers.

I really think more transparency is crucial when it comes to superannuation. Members deserve to know how much they're paying in fees and how their super company is paying directors and making donations to various bodies, and I will support any measure to increase that transparency.