Industry super fund for the energy industry, Energy Super, has teamed up with national health promotion foundation, SuperFriend, to promote mental health among Queensland energy and resource industry employers.
With one in five Australians dealing with a mental health issue, the super fund has tied up with SuperFriend, which will offer specialised mental health promotion initiatives to employers in the industry.
Energy Super chief executive, Robyn Petrou, said mental health issues were particularly prevalent in male-dominated energy and resources industries.
She said men are three times more likely to die by suicide compared to females, and men in their 50s were more likely to make an insurance claim for mental illness.
"This internal change and cultural shift aims to identify and address the underlying mental health issues found in this high-pressure industry, which can result in on-site drug and alcohol abuse that endangers them and their colleagues," she said.
"To support this, we've also trained our front-line staff to be aware of mental health issues when talking to members and to take action to support them."
SuperFriend will undertake an initial audit and review of current employee mental health initiatives, before making recommendations for customised programs from either SuperFriend or other mental health experts like ‘Mates in Construction', Petrou said.
Vanguard Super has reported strong returns across most of its investment options, attributed to a “low-cost, index-based approach”.
The fund has achieved double-digit returns amid market volatility, reinforcing the value of long-term investment strategies for its members.
Australian super funds notched a third consecutive year of strong returns, with the median balanced option delivering an estimated 10.1 per cent over the 2024-25 financial year, but an economist has warned that the rally may be harder to sustain as key risks gather pace.
AustralianSuper has reported a 9.52 per cent return for its Balanced super option for the 2024–25 financial year, as markets delivered another year of strong performance despite the complex investing environment.