Indigenous super under the microscope

August 2018 Melbourne

In Melbourne an exciting meeting took place in early August: community organisations, superannuation funds and government regulators put their heads together to work out how to make super better for First Australians. 

First Nations Foundation CEO Amanda Young urged the superannuation industry to reinvest the fees paid by Indigenous members into community superannuation initiatives like the Big Super Day Out  Supported by the ASIC Indigenous Outreach Program, Anglicare NT and Moneymob Talkabout, community organisations told the super funds they were groaning under the strain of the high demand for services in Indigenous superannuation and need the sector to help. AustralianSuper impressed the room with its Indigenous call centre which cost $0 to implement and has had over 8000 calls in its first few months. 

Hosted by AIST (charity partner of First Nations Foundation), their CEO Eva Scheerlinck, superannuation funds were asked to commit to real action.  The focus of the Royal Commission into the financial industry on Indigenous financial inclusion shows the community expects better.

We eagerly await the superannuation industry's next move. 

Better super for Indigenous Australians.