A new advertising campaign by the not-for-profit Industry Super Funds has been labelled as “political” and nothing more than “bank bashing” by opponents.
In the ad, which comes with its fair share of scare mongering, the banks are portrayed as foxes about to raid a chicken coup and the government is portrayed as a man who opens the door to the coop, letting the foxes attack.
Industry Super Funds want to highlight how the big banks want to cajole workers away from industry funds and over to bank funds that come with higher fees and charges. Check out the ad below:
However, prominent businessman and chairman of the financial system inquiry (FSI), David Murray, has said the ad is nothing more than a case of bank bashing and was offensive to bank employees.
Murray told The Australian Financial Review: “It is a political campaign. Why should members of a super fund be asked to pay for the ad?” he said, adding the campaign was even “more denigrating” than previous advertisements, which showed bank staff profiting from cross-selling financial products.
However, Industry Super Australia CEO David Whiteley has defended the marketing, saying Australians should be aware that the banks have been actively petitioning the government to dismantle the not-for-profit super funds sector.
“The carefully calculated changes lobbied for by the banks will have two clear effects. First, they aim to increase opportunities for banks to boost their market share and profitability from compulsory super,” Whiteley told The AFR.
“Secondly, and more importantly, they could reduce members’ super nest eggs by disrupting and undermining the model used by top-performing, not-for-profit super funds.”
Women in Print has re-launched itself this week to take on the year, and future ahead. A refreshed brand, website, calendar and team are leading the way with Women in Print also announcing a new partnership with The Real Media Collective. A new look, new management and new focus – Community, Knowledge, Network and Support […]
The global Out of Home (OOH) industry has today launched a campaign #OurSecondChance. The campaign asks simple questions about how we can make the most of the positive opportunities that have arisen out of the pandemic. Broadcast on OOH signs around the globe #OurSecondChance is collaboration between World Out of Home Organisation (WOO) and the […]
With the COVID-19 crisis affecting all crowd-based activities, youth mental-health charity batyr has devised the first-ever Run for the Herd Virtual Festival partnering with media business UM to bring the virtual event to life. With the City2Surf event in Sydney, normally a big fund-raising opportunity for batyr, postponed this year, batyr has created a virtual event and with the support of UM are encouraging […]
Following QMS’ acquisition of TLA Worldwide (Aust) last year, QMS Sport has today announced it will transition to the TLA brand and formally become a business unit of TLA. ‘Media Tech’ is officially the new name for what was formally known as QMS Sport, and will operate alongside TLA’s existing business units that span the […]