Collectively, Australians are sitting on a huge nest egg. At about A$4.5 trillion, our national savings pool is one of the largest in the world.

Now, facing big national challenges on housing, productivity, the clean energy transition and more, the federal government has renewed calls to direct superannuation towards solving Australia’s problems.

This is not a new idea. But it’s important not to lose sight of the fact that super already is a national asset.

We can use our national super pool to address some of our biggest challenges. But forcing funds to invest it in particular projects or sectors is problematic. There’s a better approach we’ve already tried out before.

At the Superannuation Lending Roundtable last week, an annual event hosted by The Australian Financial Review, prime minister Anthony Albanese said there was a “real potential” to see superannuation funds as:

a national asset that can be used more appropriately and get better returns as well, not just for individuals and for retirees, but for the nation.

a national asset that can be used more appropriately and get better returns as well, not just for individuals and for retirees, but for the nation.

Albanese reportedly urged attendees – including the chief executives of several major super funds and banks – to invest more of their members’ funds in Australia, in particular........

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