Guy McAliece, a partner at KPMG Superannuation, suggested that funds could go much further than provide retirement investment products. They could provide home care facilities, reverse mortgages, own retirement villages and generally provide retiring members with more of a cradle-to-the-grave offering.
Given that the family home remains the largest single asset for most people, a caring super fund is in a good position to help people either stay in their home (home care and reverse mortgages) or transition to residential facilities where more care is available.
Like Weaven, McAliece said that such ‘investment products’ could provide a good yield for the fund, as indeed they would need to.
