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Retirement

How Australians are deciding on super funds

  • July 11 2019
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Retirement

How Australians are deciding on super funds

By Cameron Micallef
July 11 2019

New research indicates Australian investors are becoming increasingly educated about their superannuation funds and how to choose what is right for them. 

Investment trend graph

How Australians are deciding on super funds

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  • July 11 2019
  • Share

New research indicates Australian investors are becoming increasingly educated about their superannuation funds and how to choose what is right for them. 

Investment trend graph

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. 

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“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.

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About the author

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Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

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