You know that industry super funds work hard to support you in your retirement, but did you know that as well as providing excellent returns to members, industry super fund investments also create jobs, increase productivity and fuel economic growth?
Find out how in ISA’s new report: “How Industry Super Investments Support the Australian Economy”.
The report demonstrates that with $100 billion invested in unlisted Australian assets like nursing homes, allied health providers, renewable energy, airports, emerging manufacturers, ports and toll roads, industry funds are growing nest eggs and generating economic growth at the same time.
Increasingly, funds are also lending to Australian businesses either directly or via non-bank lenders – supporting local companies and start-ups that many banks won’t and filling a critical gap in the lending market.
As well as growing our economy, the super system has helped minimise the economic impact of the Coronavirus downturn – investing in local businesses to improve their resilience and help get them back on their feet. In the two years since the onset of the pandemic, Australian companies raised more than $8 billion in equity, supported by the country’s industry funds across a range of sectors including those the pandemic hit hardest by Covid lockdowns.
If the Australian economy is to continue reaping all these benefits, stable policy settings are essential.
ISA will continue its outreach to federal politicians and re-emphasise that messing with the super system’s fundamentals makes it more difficult for funds to back local industries, invest in large-scale infrastructure projects, and continue delivering strong and stable retirement outcomes for Australian workers.