Superannuation funds ready to help develop Australia’s ageing needs
Pressing issues such as the needs of an ageing population could easily be addressed using superannuation funds and energetic political leadership, according to Garry Weaven, one of the architects of the superannuation system.
Mr Weaven, chairman of Industry Funds Management, told the National Press Club that super funds were keen to invest in infrastructure, but were thwarted by government inactivity at all levels.
The Treasurer’s Intergenerational Report pointed to a funding gap on future aged care and health costs, which were largely a function of age, Mr Weaven said.
“We have an ideal opportunity to build for a great and world leading future and we should seize it. If our political leaders wish to lead, I’m sure they will find willing and creative partners in the industry superannuation movement.”
