When you choose your superannuation fund, you’re probably not thinking about weapons of mass destruction.
But it might surprise you to learn that if you’re with one of Australia’s largest funds, your money is going into the production of nuclear weapons.
Research published last month by Quit Nukes and The Australia Institute found that 13 of Australia’s 14 biggest public super funds invested a combined total of $3.4 billion in companies involved in the production of nuclear weapons, as of December 2023.
Australian Super—Australia’s largest fund—was the biggest investor, with nearly $1.5 billion of its members’ money funnelled into nuclear weapons companies. Hostplus was the only fund out of the top 14 that had excluded nuclear weapons from its portfolio.
If that wasn’t enough, two of the funds—Australian Super and Spirit Super—invest in nuclear weapons companies with their ethical investment options. You read that right: “ethical” investments in nuclear weapons.
Most people would be shocked to hear their money is being used to fund nukes.
How do super funds get away with it? It comes down to the way they define nuclear weapons.
All super funds apply various “screens” to exclude certain types of investments from their portfolios, for example companies involved in fossil fuels or tobacco.







