Rest and HESTA voice support for Voice to Parliament

Rest Super has become the most recent superannuation to voice support for a constitutionally enshrined Aboriginal and Torres Strait Islander Voice.

Earlier this month, $72 billion industry super fund HESTA pledged its support for the upcoming referendum to establish the Voice to Parliament. 

“The Voice to Parliament is our chance to collectively create a stronger and more vibrant future where Aboriginal and Torres Strait Islander peoples have the constitutional right to ‘have a say’ on legislation that affects them,” said HESTA chief executive, Debby Blakey.

“Our members work primarily in health and community services and see firsthand the devastating consequences of the systemic disadvantage Aboriginal and Torres Strait Islander peoples face.

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“As an investor, we also understand that strong and respectful stakeholder relationships are fundamental to good governance and long-term, sustainable value creation, which can lead to improved member outcomes. That’s why for many years, we’ve supported the Uluru Statement and its ambition to create a Voice to Parliament.”

According to Rest, the Voice offered a “once-in-a-generation opportunity” to enhance the long-term financial interests of First Nations super members.

CEO Vicki Doyle noted that, with more than 1.9 million members, Rest represented the equivalent of one-in-seven working Australians, including many tens of thousands of members who identified as Aboriginal or Torres Strait Islander.

“Aboriginal and Torres Strait Islander peoples are three times more likely to experience financial stress in retirement than other Australians. Due to lower life expectancy, Aboriginal and Torres Strait Islander people are also less likely to reach preservation age to access their retirement savings,” Doyle said.

“We believe the Voice to Parliament will positively influence legislation and therefore lead to sustained, long-term policy improvements. This will give our First Nations members more opportunities to achieve greater retirement outcomes.

“Our First Nations members cannot wait another generation for change, which is why we will support the yes vote at the referendum.”

Roy Morgan’s latest survey of over 1,800 Australians found 46 per cent would vote ‘yes’ at the referendum if it was held today. The figure remained unchanged from a similar survey in mid-April 2023. 

However, the number of respondents who would vote ‘no’ dropped by 3 per cent to 36 per cent in May. A further 18 per cent said they were undecided, up 3 per cent from the previous month.