About the funds

The Future Fund Board of Guardians and the Future Fund Management Agency are responsible for investing the assets of the Future Fund, the Building Australia Fund, the Education Investment Fund and the Health and Hospitals Fund.

Future Fund

The Future Fund was established by the Future Fund Act 2006. The object of the fund is to strengthen the Australian Government's long term financial position by making provision for unfunded Commonwealth superannuation liabilities. These liabilities will become payable at a time when an ageing population is likely to place significant pressure on the Australian Government's finances. The Future Fund has received contributions from a combination of budget surpluses, proceeds from the sale of the government's holding of Telstra and the transfer of remaining Telstra shares. The Future Fund Board of Guardians is responsible for deciding how to invest the assets of the Fund.

Legislation stipulates that money may not be withdrawn from the Future Fund until 2020 except for the purpose of meeting operating costs or unless the Future Fund's balance exceeds the target asset level as defined by the Future Fund Act.

Building Australia Fund

The Building Australia Fund was established by the Nation-building Funds Act 2008. The object of the fund is to enhance the Commonwealth's ability to make payments in relation to the creation or development of transport, communications, energy and water infrastructure and in relation to eligible national broadband matters.

The Future Fund Board of Guardians is responsible for deciding how to invest the assets of the fund. Payments from the fund are determined by government, with advice from Infrastructure Australia, in accordance with the legislation.  

Education Investment Fund

The Education Investment Fund was established by the Nation-building Funds Act 2008. The object of the fund is to enhance the Commonwealth's ability to make payments in relation to the creation or development of higher education infrastructure , research infrastructure, vocational education and training infrastructure, eligible education infrastructure and to make transitional Higher Education Endowment Fund payments. The Higher Education Endowment Fund was discontinued in December 2008 and its assets transfered into the Education Investment Fund.

The Future Fund Board of Guardians is responsible for deciding how to invest the assets of the fund. Payments from the fund are determined by government, with advice from the Education Investment Fund Advisory Board, in accordance with the legislation.

Health and Hospitals Fund

The Health and Hospitals Fund was established by the Nation-building Funds Act 2008. The object of the fund is to enhance the Commonwealth's ability to make payments in relation to the creation or development of health infrastructure.

The Future Fund Board of Guardians is responsible for deciding how to invest the assets of the fund. Payments from the fund are determined by government, with advice from the Health and Hospitals Fund Advisory Board, in accordance with the legislation.

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