Can unions be trusted to help run giant super funds

[nero_bolt]

Can unions be trusted to help run giant super funds.... NO hey cant

The power unions have over super funds is not healthy:

The Australian Privacy Commissioner is investigating superannuation giant Cbus over another leak of personal details to the construction union.

Privacy commissioner Timothy Pilgrim began an investigation this year into claims Cbus employee co-ordinator Steve Gaske leaked information about more than 300 employees of a company subject to a construction union industrial campaign.

Mr Gaske is honourary president of the Queensland branch of the Construction, Forestry, Mining and Energy Union. Cbus files reveal an internal inquiry by the fund found Mr Gaske inappropriately sent personal details of the workers to a third party “without consent” and underwent “remedial training” as a result.

On Monday, Fairfax Media reported that NSW CFMEU state secretary Brian Parker allegedly conspired with a Cbus employee to get personal details of 400 workers, including their addresses and financial details, to help an industrial campaign…

News of a second privacy breach involving the CFMEU will further pressure the Cbus board, which includes Australian Council of Trade Unions president Ged Kearney, CFMEU national secretary Dave Noonan, NSW CFMEU president Rita Mallia and is chaired by former Victorian premier Steve Bracks. There is no suggestion the Cbus board knew of the leaking of the members’ details.

http://www.smh.com.au/national/privacy-commissioner-investigates-superannuation-company-cbus-2014051...

Privacy commissioner investigates superannuation company CBUS

The Australian Privacy Commissioner is in investigating superannuation giant CBUS for a second alleged large-scale leak of workers'  personal details.

Fairfax Media can reveal that privacy commissioner Timothy Pilgrim launched an investigation earlier this year into allegations that a CBUS senior employee, Steve Gaske, leaked personal information about more than 300 employees of a company subject to a construction union industrial campaign. Mr Gaske is also honourary president of the Queensland Construction Forestry Mining and nergy Union.

CBUS files reveal that an internal inquiry by the superannuation fund has already found Mr Gaske inappropriately sent personal details of more than 300 workers to a third party "without consent" and has been the subject of "remedial training."

The revelations come after Fairfax Media reported on Monday that the NSW CFMEU secretary Brian Parker had allegedly conspired with a CBUS employee in Melbourne to leak to him the personal details of 400 mostly non-union workers, including their home addresses and private financial details.

The workers were employed by a company, Lis-Con, and Mr Parker allegedly wanted to use the information to help an industrial campaign against the company

Read more: http://www.smh.com.au/national/privacy-commissioner-investigates-superannuation-company-cbus-2014051...

[silverfaun]

Can bank robbers be trusted to run the banks?? can lunatics be trusted to run the asylums??......duh! no.

[lakeland27]

 the unions have run these funds very well. i doubt anyone is wanting cormann and sinodinos to step in for the big skim

[freakiness]

---

@lakeland27 wrote:

that's right. they opposed it at the time and then in office complain how large the welfare bill will be. umm derrr tone it's you and howard who lacked the foresight to fix the problem in the first instance(s)  Would you let a somewhat deficient liberal run a superfund ? 

---

I doubt it. After commissions paid there'd be no funds left for the account holder.

[lakeland27]

---

@freakiness wrote:

---

@lakeland27 wrote:

that's right. they opposed it at the time and then in office complain how large the welfare bill will be. umm derrr tone it's you and howard who lacked the foresight to fix the problem in the first instance(s)  Would you let a somewhat deficient liberal run a superfund ? 

---

I doubt it. After commissions paid there'd be no funds left for the account holder.

---

 exactly. fees and commissions up through the roof.. then there's the small matter of killing off the protections against bent financial planners that Senator Sinodinos introduced.. He seems trustworthy enough .

[the_hawk*]

I trust my union fund a lot more than I would most of Tonys money grubbing types of mates and union funds tend to preform better as well as ripping of less fees