An Equipsuper study has found the majority of pre-retiree members are considering their retirement needs, but less than half have a formal plan, prompting the fund to launch a retirement campaign.
Research by the super fund of nearly 6,000 Australians via internal member research and primary market research found 90 per cent were thinking about retirement, but 40 per cent had no plans on how to achieve this.
Half of pre-retiree respondents said they were confident about current market trends and 65 per cent of retirees were confident, rising to 73 per cent of retirees who were confident in understanding different investment approaches.
As a result, the firm had launched a multi-platform campaign on how Australians could equip themselves with the education and tools for a comfortable retirement.
This included a range of digital resources, educational material, calculators, and access to financial advice services.
“The aim of the campaign is to raise awareness of the existing tools which are available to members, and to get Australians thinking about planning for retirement as early as possible,” said Scott Cameron, Equipsuper chief executive.
“It’s never too early to start thinking about your post-career future, so we’ve developed a series of education modules, including videos, tailored to pre-retirees and those nearing, or at, the point of retirement, emphasising the different circumstances of each person.
“We saw an opportunity to bolster the way people access advice and tailored support before they reach the point of retirement, because that’s where confidence and understanding is lacking. Setting our members up for a strong retirement is our number one priority, as they’re the reason we exist as a fund.”
Equipsuper managed $30 billion for over 140,000 members across Equipsuper and Catholic Super and had ambitions to grow to $50 billion for 300,000 members.
