CitiStreet slams super costs

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AUSTRALIA - CitiStreet has criticised the 'Choice of Fund' regime, claiming administration costs are set to triple by 2012.

Fees for the Choice of Fund scheme, whereby savers can choose which fund their super contributions are paid into, are set to rise from AUS$20-30m (US$18.5-27.8m) a year to $70-90m by 2012 and will ...

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