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Survey finds super key to election
Most super fund members agree that superannuation will be a key issue for the upcoming election, according to a recent survey.
A Sunsuper survey of 1000 members conducted by Galaxy Research has shown that 68 per cent of members believe superannuation will be an area to watch in the lead-up to the election.
Over half (57 per cent) were worried rumoured changes to the superannuation system would negatively impact them, with baby boomers (76 per cent) the most anxious about possible Government interference.
Over half (56 per cent) of baby boomers felt potential changes to the system were eroding their confidence in superannuation.
Sunsuper customer experience and insights general manager Teifi Whatley said the results of the survey showed members felt super was important — but were losing confidence in its ability to act as a retirement-savings vehicle due to Government tinkering.
"It's important that any changes to the system must be made in the context of the key objective of superannuation, which is to provide Australians with a financially comfortable life in retirement," Whatley said.
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A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
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