Treasurer Jim Chalmers has come under fire after suggesting superannuation funds increase their exposure to ‘nation-building’ projects like social housing and clean energy.
Former senior Treasury official Mike Callaghan contends that super funds should only invest in “nation-building” projects if doing so is in the best financial interests of their members.
Shadow treasurer Angus Taylor and Brendan Coates from the Grattan Institute similarly argue that the primary purpose of super is to provide for Australians’ retirement, so they should invest only in assets that will provide a sound return.
