SMC claims confidentiality on cost of academic | Australian Markets
The industry funds-backed Super Members Council (SMC) refused to speak in confidence to the Senate Economics References Committee how a lot it paid a South Australian academic for a research which discovered in opposition to the use of superannuation for housing.
In an reply to a query on discover from NSW Liberal Senator, Andrew Bragg requested after the beginning of the Federal Election marketing campaign, the SMC extolled the virtues of the research undertaken by Professor Chris Leishman however cited business in confidence issues for refusing to state how a lot Leishman was really paid.
Bragg had requested whether or not analysis funding was offered by the SMC for Leishman’s research and “if so, how much?”
However, the SMC stated it had beforehand offered proof to the Senate Committee “noting individual supplier arrangements are commercial-in-confidence”.
“… this is standard practice for organisations across a wide array of sectors. This ensures an ongoing ability to negotiate the best terms in members’ best financial interests and not suffer a disadvantage in the market,” it stated. “Quite reasonably, SMC therefore does not disclose commercial-in-confidence information, consistent with the approach of other similar organisations.”
The SMC additionally cited commercial-in-confidence with respect to Bragg’s questions round whether or not it offered funding to social assembly firm, Cheek Media Co and whether or not it had “paid Hannah Ferguson of Cheek Media and the Daily Oz to support your position positions?”
It stated it engaged with social media corporations in circumstances the place “youthful Australians are usually more seemingly than earlier generations to entry info by way of social media than conventional media.
“SMC engages via social media based on research that shows members who are more engaged with their super are more likely to make good financial decisions about their super. If SMC engages in a paid partnership with content creators, our involvement will always be attributed by the creator,” the SMC stated.
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