It's time to bail from UniSuper
Where are the superannuation regulators when investors really need them, as the UniSuper defined benefit fund difficulties continue? Recoveries in world equity markets have improved the fund's overall situation and reduced the deficit if the fund were liquidated today.
This situation has allowed trustees to delay a decision on whether benefits need to be reduced on an equitable basis under Clause 34 of the Trust Deed. But it does not remove the uncertainty about whether all members will receive all the benefits promised to them when they leave.
Read the full article: It's time to bail from UniSuper (The Australian subscription required)