New data confirms Big Super are Australia’s biggest hypocrites

New data shows the biggest super funds are massive investors in Australian housing, whilst simultaneously campaigning against Australians doing the same.

APRA data shows listed and unlisted assets held in default superannuation account funds have invested $131.7b in Australian property.

Ten large super funds including; AustralianSuper, Australian Retirement Trust and Cbus have invested more than $4.4 billion into Australian houses.

These same world-beating hypocrites spend $25m each year on advocacy and lobbying to stop Australians from investing into homes which could be their own.

Funds like AustralianSuper and Cbus have dropped millions on advocacy payments to Super Members Council and Industry Super which are directly campaigning against super for housing.

Their advocacy demonstrates Big Super’s desire to become Australia’s biggest landlords, setting sail to a future where Australians are forced to rent in retirement from a super fund.

This has been supported by Labor which loves super funds investing in housing.

Labor Housing Minister Clare O’Neil said the quiet part out loud, when she professed, “we see Aussie super funds investing in residential property overseas… lighting a fire under the build to rent sector will lead over time to strong super engagement in this kind of property.”

Translation: Labor wants Big Super funds to invest in housing, just not the Australian people.

Under Labor, your super can invest in any home except your own. It is wrong. Australians should have the choice to use their own money to support their own home, not someone else’s.

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