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	<title>Financial Standard Comments - Super funds need to act like banks: PM</title>
	<description>The Prime Minister has called on industry super funds to invest in failing businesses, like Virgin Australia, to help sustain them during the COVID-19 crisis.</description>
	<link>https://www.financialstandard.com.au/feed/latest?story=158288989</link>
	<lastBuildDate>Fri, 17 Apr 2020 13:24:41 +1000</lastBuildDate>
	<pubDate>Fri, 17 Apr 2020 13:24:41 +1000</pubDate>
	<language>en-AU</language>
	<copyright>Copyright 2026 Financial Standard</copyright>
	<ttl>5</ttl>
	<item>
		<title>Comment by Nathan Baker (KR Financial Planning)</title>
		<link></link>
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<p><p>This suggestion shows a gross misunderstanding of both the purpose and laws surrounding Superannuation. It is not appropriate for the funds to act to save member jobs. The Super fund&#39;s role is to provide for retirement benefits, not try to soften member&#39;s journey toward retirement. Thus they need to invest where they can see the money they are responsible for getting a return. Propping up failing businesses is entirely outside that remit. There is a little thing called the Sole Purpose Test which I would suggest to the Prime Minister would be worth reading.</p></p><p><a href="">Reply to article</a></p><p>For original story, <a href="">Click Here.</a></p>
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		<dc:creator>Nathan Baker (KR Financial Planning)</dc:creator>
		<pubDate>Fri, 17 Apr 2020 13:24:41 +1000</pubDate>
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