Retirement
How Australians are deciding on super funds
New research indicates Australian investors are becoming increasingly educated about their superannuation funds and how to choose what is right for them.
How Australians are deciding on super funds
New research indicates Australian investors are becoming increasingly educated about their superannuation funds and how to choose what is right for them.
The Investment Trends research suggests that Australians are becoming increasingly aware of their super fund’s behaviours and strategies, and are at the same time demonstrating more loyalty towards their fund.
Investment Trends senior analyst King Loong Choi stated: “While Australians are increasingly loyal to their existing super fund, the industry cannot rest on its laurels in supporting, educating and informing its members.”
Responsible investing
Environment, social and governance (ESG) is gradually gaining traction amongst older investors as they try to hold investments that match their personal values.
“There is strong interest in ESG-centric investments within super among Australians young and old. While the current product range is playing catch up to consumer demand, this represents an opportunity for super funds to differentiate,” said Mr Choi.
Appetite for advice and education
Three quarters of Australian super fund members have interacted with their fund in some way in the last 12 months, according to the research.
Further, 39 per cent read their annual statement, 28 per cent visited the fund’s website or read regular communication from their fund.
Despite this, many wanted to react with their funds on a deeper level but were unsuccessful in doing so, with the most common issue being a lack of face-to-face financial advice.
“Increased marketing efforts by industry super funds and recent rumblings from the royal commission have further raised consciousness around superannuation, prompting more Australians to move from casual to mindful stewards of their own super,” said Mr Choi.
“While Australians are increasingly loyal to their existing super fund, the industry cannot rest on its laurels in supporting, educating and informing its members,” continued Mr Choi.
This email address is being protected from spambots. You need JavaScript enabled to view it.
About the author
About the author
Superannuation
Super reforms to save members thousands but should go further
The “Your Future, Your Super” reforms announced during the federal budget are heading in the right direction, with members potentially benefiting, an industry expert has said. ...Read more
Superannuation
Australia slips in global pension index
The Australian superannuation system has been rated at B, falling to fourth place, new research has revealed. ...Read more
Superannuation
Early super payments slow to under $200m
Less than $200 million was paid out of the super system in the second week of October, as the popularity of the government’s early release scheme looks to be slowing further following the release of...Read more
Superannuation
‘Impressive’ super erases most COVID-19 losses
Australian superannuation has erased most of the COVID-19 downturn following a positive September quarter, new research has shown. ...Read more
Superannuation
1.2m Australians lose in tax offset lag
The Treasury’s latest tax cuts will see more than 1.2 million low-income earners paying a higher rate of tax on their superannuation contributions, with funds arguing changing the tax rate could add...Read more
Superannuation
Could you be stuck in a poor-performing fund?
The government’s superannuation reforms to eliminate multiple superannuation accounts could have unintended consequences, with older Australians locked into financial decisions made by their teenage...Read more
Superannuation
Big super pushes for gender parity
One of Australia’s largest superannuation funds has launched an investor-led initiative that will see women fill at least 40 per cent of the executive roles in the ASX 200 over the next decade. ...Read more
Superannuation
Why it is ‘cruel’ and ‘embarrassing’ not to raise the SG
Australian workers, who are bearing the brunt of the public decision to shut down the economy, could be “cruelly rewarded” for their sacrifice with a less dignified retirement, industry experts ...Read more
Superannuation
Super reforms to save members thousands but should go further
The “Your Future, Your Super” reforms announced during the federal budget are heading in the right direction, with members potentially benefiting, an industry expert has said. ...Read more
Superannuation
Australia slips in global pension index
The Australian superannuation system has been rated at B, falling to fourth place, new research has revealed. ...Read more
Superannuation
Early super payments slow to under $200m
Less than $200 million was paid out of the super system in the second week of October, as the popularity of the government’s early release scheme looks to be slowing further following the release of...Read more
Superannuation
‘Impressive’ super erases most COVID-19 losses
Australian superannuation has erased most of the COVID-19 downturn following a positive September quarter, new research has shown. ...Read more
Superannuation
1.2m Australians lose in tax offset lag
The Treasury’s latest tax cuts will see more than 1.2 million low-income earners paying a higher rate of tax on their superannuation contributions, with funds arguing changing the tax rate could add...Read more
Superannuation
Could you be stuck in a poor-performing fund?
The government’s superannuation reforms to eliminate multiple superannuation accounts could have unintended consequences, with older Australians locked into financial decisions made by their teenage...Read more
Superannuation
Big super pushes for gender parity
One of Australia’s largest superannuation funds has launched an investor-led initiative that will see women fill at least 40 per cent of the executive roles in the ASX 200 over the next decade. ...Read more
Superannuation
Why it is ‘cruel’ and ‘embarrassing’ not to raise the SG
Australian workers, who are bearing the brunt of the public decision to shut down the economy, could be “cruelly rewarded” for their sacrifice with a less dignified retirement, industry experts ...Read more
More articles
Website Notifications
Get notifications in real-time for staying up to date with content that matters to you.
