Ban on for-profit funds would be simplistic, says super lobby
Simplistic reactions such as prohibiting for-profit organisations operating in superannuation should be resisted, the head of the industry lobby group says.
Association of Superannuation Funds of Australia chief executive Martin Fahy called for civility between players in the $2.7 trillion system.
There was a need to reconcile the "invisible hand of the market with the helping hand of the member interest test", he said.
"We must temper hubris, rein in excess and remain humble. ...