It seemed like a great idea at the time

“But one of my biggest bugbears is someone who’s got $50,000 in a super fund and is too scared to take it out, and they’re on the pension, but there’s no economic benefit whatsoever – not even any pension incomes test benefit, because it’s so low – but they’re in the super fund because the institution that runs the super fund and employs the advisers influences the adviser to tell the client to stay where they are, and they can least afford it. So that’s the sad thing that still goes on.

“And those institutions are wide and varied, so I’m not saying it’s any particular one.”