Australia's Labor Party to implement default super if re-elected

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AUSTRALIA - Prime Minister Julia Gillard said a re-elected Labor government will allow Australia's pension industry to offer a new standardised fund recommended by a government-commissioned review.

The fund, called MySuper, was proposed by the Cooper Review last month (Global Pensions: July 5, 2010). The review said it could cut fees paid to asset managers by 40%, helping the average worker r...

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