Australians do not agree with call from the Federal Government to use Superannuation funds to invest in social housing and clean energy.

A survey commissioned by Industry Super Australia says Millennials, Generation Xers and Baby Boomers are all wary of the proposals.

The overriding concern is about the return on investment.

“These soft voters intuitively felt that the returns on investment for social and community housing in particular, were well below the returns of more common investments,” it says.

“In their minds, it’s a nice idea in-principle, but it means inherently lower returns and higher risk.”

Treasurer Jim Chalmers has been meeting with influential investors from the major banks, venture capital and the superannuation sector to discuss how they can facilitate greater investment in affordable housing and build-to-rent models.

Respondents are also concerned about the Opposition’s Super Home Buyer Scheme in which first home buyers could use up to $50,000 from their superannuation account to buy property.