Powered by MOMENTUM MEDIA
subscribe to our newsletter sign up

Superannuation satisfaction: How does your fund measure up?

Superannuation, super satisfaction, Roy Morgan, industry super fund, retail super fund, self-managed super fund, SMSF, Australian retirement, Australian superannuation, retirement income

Roy Morgan Research has released new figures showing how satisfied Australians are with the type of super fund they’ve invested in.

Members of self-managed super funds were the most satisfied in the six months to March 2017, with an average satisfaction level of 76.2 per cent, the Roy Morgan Research survey shows. This marks an increase in satisfaction levels of 2.6 per cent over the last year.

Satisfaction in retail funds improved by 3 per cent, bringing satisfaction with retail funds to 60 per cent for the six months to March.

Advertisement
Advertisement

By contrast, industry super funds saw their satisfaction levels decline by 3.1 per cent over the year, putting the average satisfaction level for these funds over the six months to March down to 57.3 per cent. It’s the second consecutive month that retail funds have beaten their industry peers, a feat that hasn’t been seen since 2003 when the survey began.

Roy Morgan did, however, note that when looking at satisfaction levels among members with a super balance of more than $700,000, these figures were noticeably different.

“In the all-important high-value market with balances over $700,000, industry funds lead with 85.3 per cent satisfaction, compared to 76.1 per cent for retail funds,” the company said.

“This is the segment where competition is greatest from self-managed super funds, which have shown a decline in satisfaction of 2.5 percentage points over the last year to 75.9 per cent.”

Superannuation satisfaction: How does your fund measure up?
Superannuation, super satisfaction, Roy Morgan, industry super fund, retail super fund, self-managed super fund, SMSF, Australian retirement, Australian superannuation, retirement income
nestegg logo
subscribe to our newsletter sign up
FROM THE WEB
Recommended by Spike Native Network
Dr Terry Dwyer, Dwye... - He did not seem to have read the Coronation service and realized the Sovereign is the Lord's Anointed and that there was a Restoration so private.......
DavidL - Why has it been used in high rise construction if it has never been approved for that purpose? How does it get past building inspectors in the first place?....
Mort - This is absolute nonsense from the shadow treasurer, who should know better. Why has Labor excluded non tax paying Commonwealth pensioners, if not for.......
Howard Patterson - It is not a matter of banning the product, it may be perfectly safe on a low rise building. When all the humbug is stripped away, the fact is that.......