From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...
Super director remuneration ...
No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...
The transition of services took effect last month....
The newly created role, reporting to the COO, comes amid the fund’s redesign of its operating model....
The merger, first announced in December 2022, was due to be completed in mid-2024....
Maybe customers haven't moved because:
A. They don't open their super statements or correspondence anyway so yet to know they're in a underperforming fund.
B. Past performance isn't an indication of future performance
C. Most 'poor performing' funds did double digit returns, maybe we will see more changes in a year where 'poor performance' is actually a negative return.
D. People understand that they can lose more money through buy/sell, market timing and CGT by regularly switching funds that can be more detrimental than 50bps.
E. Customer have no idea what YFYS, TMD, DDO or any other acronym introduced in the past 5 years really is or how it impacts them.
Lets face it, Australians need to improve their financial literacy and stop using default funds, which means super providers need to make the customer experience easier to take control of their underlying investments in super and provide more up to date information about where their money is actually invested.