Josh Frydenberg nominated busting the grip of unions over Australia's $1.9 trillion superannuation industry and giving a leg up to retail super funds as one of his first priorities upon becoming Assistant Treasurer.

But the star recruit of Prime Minister Tony Abbott's recent cabinet reshuffle has not exactly put his own hard-earned money where his mouth is on creating a level playing field for commercial and industry super.

An update to Mr Frydneberg's pecuniary interests register shows the Kooyong MP has switched his work super out of an AMP super fund (retail) into Australian Super (industry).

He retains a super account with Mercer (retail), according to the register.

In January, the Australian Financial Review reported unions had been "put on notice" that their influence over super would be dramatically scaled back under Mr Frydenberg.

He said two of his main priorities were removing retirement products from workplace agreements, including the selection of default super funds, and forcing funds to appoint more independent directors.

He said laws dictating which funds can collect billions of dollars of super contributions were "highly inequitable". "I don't have a lot of faith in the current system. It leaves retail funds and small industry funds at a disadvantage. I am determined to act on that," he told the AFR.

Board members of Australian Super, the new protector of Mr Frydneberg's super, include ACTU secretary Dave Oliver and Australian Manufacturing Workers' Union boss Paul Bastian.

Mr Frydenberg confirmed he had switched super into an industry fund.

Read more:

http://www.smh.com.au/federal-politics/political-news/assistant-treasure...