Wayne Swan, national president and former treasurer of the ALP, has reignited the pensions war, saying industry funds are under attack from critics jealous of their success, while vehemently defending their controversial governance models as being in the best interest of customers.

Mr Swan called criticism of union-appointed members to the Cbus board, which he chairs, “completely inaccurate, hysterical and unwarranted” given its “spectacular success over 40 years” .

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