Rest has more members aged under 34 than any other fund and James Merlino, the chairman of the fund, says helping provide homes for them is his biggest concern.
Former Victorian deputy premier James Merlino has escaped politics after 20 years in the firing line, but he’s still up to his neck in the debate around affordable housing, parental leave and other issues facing young people.
The father of three is concerned about how the next generation will get a leg up in “post-war-like conditions” post the pandemic of high government debt, inflation and social challenges.Advertisement “All of these challenges point to the very real prospect that our children and young people are going to have less opportunity than their parents.”The one thing young people should eventually have – thanks to the country’s compulsory superannuation scheme – is retirement savings.
“The challenge isn’t capital, and the challenge isn’t understanding. We have deep knowledge in our investment team of how investing in housing can work,” he says.
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