Government to create AUS$140bn fund to cover pension liabilities

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AUSTRALIA - The federal government has announced it will establish an investment fund to meet its unfunded superannuation liabilities, which are expected to grow to about AUS$140bn by 2020.

The so-called Future Fund will be funded through budget surpluses and the sale of its stake in Telstra Corporation. The fund will initially invest about AUS$16bn, said Treasurer Peter Costello i...

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