CBA’s superannuation sting is ’out-and-out gouge’ says minister

The Commonwealth Bank plans to slug superannuation and pension fund members with a hefty fee to fund the cost of regulatory compliance, in a move described as an "out-and-out gouge" by Financial Services Minister Kelly O’Dwyer.

Commonwealth Bank accused of money laundering

The bank this month wrote to members of its flagship superannuation fund Colonial First State, informing them they’ll be charged a “regulatory reform fee” in June 2018.

Read the full article at the Sydney Morning Herald.

Share This