Industry superannuation funds are fast tracking insurance claims and enquiries from members and employers affected by the bushfires whether they were survivors, fire fighters or those helping with recovery efforts.
It said funds were analysing data to identify members and employers in bushfire areas and working n the best ways to provide them with support in the short-term. Call centre and online enquiries would also be monitored to identify and assess common themes or issues members were facing.
Employers affected by the bushfires could also seek advice and assistance about their situation as it related to super, and workers looking into what support measures might be available for their situation were encouraged to contact their fund directly.
ISA head of research, Dr Nick Coates, said: “Industry super funds stand ready to provide their members affected by the bushfires with the support they need when they need it.
“This is one small way industry super funds can help, by making it easier for thousands of Australians impacted by bushfires to get the information, service and support they deserve.”
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.