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.”
The Federal Court has ordered AustralianSuper to pay $27 million for failures to address multiple member accounts.
The country’s fourth-largest fund is targeting the “missing middle” of members with a new digital advice service in partnership with Ignition Advice.
The prudential regulator confirmed it is considering BUSSQ’s Federal Court appeal.
The Albanese government has put forward a bold proposal to tackle the challenges of Australia’s swelling retirement pool, in an effort to allow superannuation funds to play a more active role in shaping members’ retirement outcomes.