How naive - “after all, it is the trustees that know their members best”.

The trustees “do not deal individually with each and every member” so it is well nigh impossible for the Trustees to provide independent, individual information to each and every member to meet the member’s circumstances in retirement. Further, labelled allocation investment mixes such as Balanced, Conservative, Moderate and High Growth allocation mixes currently employed by Trustees of Superannuation Funds, one size fits all solutions do not work.

Accumulated Superannuation may very well be the second largest asset after the family home of most members.

In retirement each and every member’s retirement income plan needs constant review and monitoring as to both investment allocation with respect to the social security welfare dollar assistance, the inherent risk involved to meet the member’s goals.

However over the last four decades successive governments have under the guise of so called “holistic financial planning” destroyed this personal monitoring facility between the member and the introducing intermediary with expensive Royal Commission hearings the cost of this personal monitoring which amounted to only about $3,000 per $1,000,000 member balance annually from inception to final payment on death of the member.

It was both in the member and the introducing intermediary financial interests to continually monitor and tweak the investment allocation to the member’s risk.