Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank Senator Bragg for the question. As Senator Bragg's question indicated, this matter is under consideration by APRA, which is the regulator of superannuation in this country. Mechanisms are in place for the regulator to manage and investigate those matters, and, if they think there is anything that they need to respond to, I'm sure that they will. But I think Senator Bragg's war on super—

That's what this is about. He's obsessed with it. He's obsessed with his war on super and undermining—

Opposition senators interjecting—

He can dress it up anyway he likes. He is well aware that APRA is looking into any matters. I'm sure they're engaging closely with Cbus as they investigate these matters. But he's using that as a shield to continue to undermine compulsory super in this country. That's what he's doing. He does it at every single opportunity. And, if it's industry super he can attack, then he'll go after them. Industry super in this country plays an important role in managing and enhancing millions of Australians' retirement incomes to ensure that they are able to retire with dignity and that the hard work that they do through their working lives is rewarded through the superannuation system.

We have a regulatory system here that manages and regulates the superannuation industry. They've already indicated that they are working with Cbus and having a look at some the concerns that have been raised, and I would encourage Senator Bragg to allow them to do their job. And I have no doubt that he will be speaking to or questioning APRA at estimates on this very subject.