Labor won't be backing proposed changes to the way superannuation funds are governed, accusing the federal government of pursuing a "cranky ideological crusade".
Shadow treasurer Chris Bowen told parliament on Monday that Labor would not support the bill which seeks to ensure corporate, industry, public sector and retail super funds have a minimum one-third independent directors on their trustee boards, as well as an independent chair.
Labor superannuation spokesman Jim Chalmers said the proposal was "just a cranky ideological crusade", describing it as poorly motivated and poorly designed.
