GESB’s online calculators have seen a 51 per cent increase in usage since they were relaunched last month, the fund has announced.
GESB has a risk profile calculator that determines what an investor’s appropriate investment strategy will be, based on factors such as tolerance to market fluctuations.
The fund also has a ‘How much will I have/need’ calculator that takes into account variables such as age and contributions to show the effect on final superannuation balance.
The calculator also helps members find out whether they are entitled to receive a co-contribution payment from the Federal Government.
The calculators use assumptions around factors such as when tax is paid on contributions and earnings in order to reflect differences between plans, GESB stated.
GESB’s general manager of wealth management Fabian Ross said the increase showed that members valued access to information that helped them make informed decisions about their super.
“Anecdotal feedback from our members suggests they particularly appreciate being able to interact more with the calculators and find the way the results are displayed more appealing,” he said.
GESB recommended that members consult a qualified adviser before making any decisions.
