Australian Retirement Trust (ART) has launched its Innovate Reconciliation Action Plan, outlining a series of initiatives aimed at improving financial outcomes for First Nations members and advancing reconciliation across the fund.
Released during National Reconciliation Week, the plan sets targets through to the end of 2028, including the delivery of financial education designed with and for First Nations members, strengthening culturally informed member support, building a culturally safe workplace, and amplifying First Nations voices through responsible investment stewardship.
As part of the plan, ART is working towards a First Nations workforce target of 2 per cent.
Australia’s second-largest superannuation fund said an estimated three to five per cent of its members identify as Aboriginal and/or Torres Strait Islander, with many continuing to face systemic barriers when navigating the superannuation system.
According to ART, its data shows First Nations members are more likely to experience financial stress and feel overwhelmed managing their finances.
chief investment officer and executive sponsor for the plan Ian Patrick said the fund’s focus was on creating meaningful outcomes for members and communities.
“It’s about making sure we make a difference in their lives, in the communities that we serve and in making the system better overall for our members,” Patrick said.
“Across our services and partnerships and the way we work, we’re focused on improving financial outcomes for everyone and building long-term trust in the system. Our Innovate Reconciliation Action Plan is an important way that we can deploy our efforts to help deliver for our members.”
The Innovate Reconciliation Action Plan follows ART’s Reflect Reconciliation Action Plan, which was delivered in 2023–24.
ART said the new plan is underpinned by partnerships with First Nations-led organisations, including First Nations Foundation, as the fund seeks to strengthen engagement and support for First Nations communities.
