Interview with Chris O'Keefe on 2GB

 **Subjects:** Superannuation payouts E&OE……… **Chris O'Keefe** Andrew Bragg. He's the Senator that kicked this all off. What did you make of that interview with the Assistant Treasurer, Senator Bragg? **Senator Bragg** G'day Chris. Well look, ultimately they could fix this tomorrow if they wanted to, because ASIC already has very strong powers around unconscionable conduct, where it can bring an action against a fund that isn't doing the right thing. So this could be solved tomorrow. But look, I mean tomorrow in the Senate, in Canberra, there's a motion on the papers to establish an Inquiry into these matters. So if Stephen Jones is really serious about this, then he'll get his Labor Party Senators to support that motion tomorrow in Canberra. **Chris O'Keefe** Do you buy it, the harsh talking and he wants to clean it up and all the rest of it? **Senator Bragg** Look, it could be fixed almost immediately if the regulators enforced the existing laws. But I do think this does warrant a deeper dive to work out what exactly is going on here because I think these funds are hanging onto this money at the most difficult and stressful time for these people, and I want to know why they're doing that. **Chris O'Keefe** Well, do you think that my suspicion could be on the money? **Senator Bragg** Look, in superannuation, it's very possible. It's a wild industry and as I say, they're very entitled. And so if they can get away with it, they will. **Chris O'Keefe** And do you think that they're… Do you trust the Federal Government? Do you trust Stephen Jones to really put a big stick or put a dose of salt through these super funds when you've got Wayne Swan, the President of the Australian Labor Party, he's the Chair of CBUS. Nicola Roxon former Federal Labor Health Minister, she's the Chair of HESTA. And President of the ACTU, Michele O'Neil, is on the board of AustralianSuper for god's sake. It's all very cosy, Andrew Bragg. **Senator Bragg** Look, it's a beehive of vested interest, and the problem is that the Labor Government spends most of its time trying to feather the nest of their favourite fellow travellers like the unions and the super funds. So I don't trust them, which is why I think a Senate inquiry is the only honest approach here. I'm pleased that Stephen Jones sounds like he thinks this is an important issue, and I'm sure he'll be asking his Labor Party colleagues to vote in favour of this motion tomorrow in Canberra. **Chris O'Keefe** All right, Andrew, I appreciate that. Thanks so much. **Senator Bragg** Thanks Chris. **[Ends]**