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The Sunday Telegraph (Sydney) - - OPINION OUR & YOURS -

Mi­randa Devine’s ar­ti­cle (“Ac­tivist ca­bals funded by su­per”, 27/5) rep­re­sents a de­par­ture from re­al­ity-based com­men­tary and does a dis­ser­vice to the hun­dreds of thou­sands of your read­ers whose re­tire­ment sav­ings are in­vested in high-per­form­ing in­dus­try su­per funds.

Your columnist did not at any time con­tact Cbus Su­per Fund nor seek to check any of the wild and ir­re­spon­si­ble state­ments she made.

The fact is this: Cbus does not make po­lit­i­cal do­na­tions to unions or em­ploy­ers. The ar­ti­cle’s as­ser­tions of “se­cret in­dus­try fund pay­ments to unions”, “do­na­tions”, “theft” and “kick­backs”, are false.

Cbus is an all-profit-tomem­ber fund — every­thing we do is in our mem­bers’ best in­ter­ests to max­imise their re­tire­ment sav­ings.

It should also be noted that our in­sur­ance cover is tai­lored to the needs of our mem­bers in the haz­ardous build­ing and con­struc­tion in­dus­try.

Most work­ers don’t need to worry about in­juries and fa­tal­i­ties at work. Ours do. If it wasn’t for Cbus In­sur­ance, many of our mem­bers wouldn’t be able to ac­cess in­sur­ance at all.

To sug­gest Cbus acted “omi­nously” by ad­vis­ing a mem­ber about the im­por­tance of ad­e­quate in­sur­ance cover is like­wise in our view un­pro­fes­sional and ill-in­formed.

STEVE BRACKS CHAIR, CBUS SU­PER FUND

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