SuperFriend, the workplace mental health and wellbeing partner for the superannuation and insurance industry, has responded on behalf of its partners to the Productivity Commission’s inquiry into mental health.
The federal government announced the inquiry in November 2018, calling for submissions extending beyond the health system’s role in addressing mental health, education, employment, housing, disability support and the justice system.
SuperFriend recommended the Federal Government establish a cross-sector working group, invest in the development of a National Workplace initiative, develop incentives for industry-led implementation, and encourage positive strength-based strategies across all investments.
Margo Lyndon, chief executive officer of SuperFriend, said insurance claims related to mental illness and suicide had increased, and managing those claims had become complex and costly.
“We are calling for the Government to introduce practical measures in working with the industry and business in creating mentally healthy workplaces across Australia for all Australians,” Lyndon said.
“We spend so much of our time at work, and there's a clear correlation between mentally healthy workplaces and improved worker mental health and wellbeing.”
Australia’s largest super funds have deepened private markets exposure, scaled internal investment capability, and balanced liquidity as competition and consolidation intensify.
The ATO has revealed nearly $19 billion in lost and unclaimed super, urging over 7 million Australians to reclaim their savings.
The industry super fund has launched a new digital experience designed to make retirement preparation simpler and more personalised for its members.
A hold in the cash rate during the upcoming November monetary policy meeting appears to now be a certainty off the back of skyrocketing inflation during the September quarter.