Making an impact for Indigenous Australians and superannuation

QSuper has joined as an Impact Partner with First Nations Foundation to help support the financial wellbeing and unique needs of Aboriginal and Torres Strait Islander people to access and engage with super.

Through a new online resource designed by Indigenous people for Indigenous people, QSuper is helping bring support to Indigenous Australians with culturally relevant information and assistance on superannuation.

According to the First Nations Foundation, as many as one in every two Indigenous Australians suffer severe financial stress and nine out of every 10 have no financial security.

At QSuper, we are committed to improving the financial wellbeing of Aboriginal and Torres Strait Islander peoples.

This is why we make regular visits to Indigenous communities to support the financial wellbeing of members and locals and help connect people with their super.

Since July 2019, we have reconnected remote and Indigenous members with more than $1 million in super and educated hundreds on how super works and how to access funds.

Support for Indigenous communities in COVID times

The COVID-19 health emergency means face-to-face superannuation support through trips to Indigenous communities and First Nations Foundation major events, including the Big Super Day Out, cannot go ahead as planned this year.

Instead, a new online resource has been created – Indigenoussuper.com.au – designed by Indigenous people for Indigenous people to offer culturally relevant information and assistance about superannuation.

Superannuation is likely to be the largest and only asset for many Indigenous people.¹

However, according to the First Nations Foundation, there is currently a lack of understanding among many in the Indigenous community about the role and benefits of super.

Indigenous Australians and super

The website includes interactive educational content that speaks broadly about the purpose and benefits of super, as well as addressing specific challenges that the Indigenous community experience such as identification, claims and access to clear and culturally relevant support.

First Nations Foundation chief executive, Phil Usher, said the site offers culturally appropriate strategies to help Indigenous Australians locate, combine, and manage super.

It also features educational videos and articles covering some of the finer details of areas that have proven to be common challenges faced by Aboriginal people, as well as calculators and tools to help people plan for the short and long term.

QSuper is committed to the financial empowerment of First Nations people. Find out more about managing your super.

1. Indigenous Superannuation Working Group discussion paper, https://www.aist.asn.au/AIST/media/General/Indigenous%20Super/Docs/Indigenous-Working-Group-Discussion-Paper.pdf, page 7, accessed, 15 October 2020