A victory for inertia

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The Australian superannuation system, so long the darling of many pensions policy aficionados finds itself under pressure as never before. For the first time savers are having to face up to the fact their nest eggs have shrunk and that markets do not always chart a steady northward trajectory.

Since the Australian government introduced mandatory retirement savings the superannuation industry has the basked in the economic sunshine as the local economy surfed the commodities boom.  But...

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