Industry Super Australia (ISA) has relaunched its famous 'Compare the Pair’ advertising campaign, which looks at the difference in performance between industry and retail super funds over the last decade.
The relaunch comes 10 years after the original campaign was first aired, but has a slightly different focus.
Unlike the original campaign, which focused on the impact the on-going sales commissions paid to financial advisers would have on a person’s superannuation balance, the new campaign reviews the last 10 years to compare average net returns that industry super funds have provided compared to retail funds.
The financial modelling for the new campaign was produced by ratings agency SuperRatings, but the fine print indicates that past performance is not a reliable indicator of future performance and “should not be the sole factor considered when selecting a fund”.
ISA chief executive David Whiteley said the relaunch of the Compare the Pair comes amidst concerns the Government’s changes to the Future of Financial Advice (FOFA) legislation would re-introduce commissions into financial advice.
“Allowing financial advisers to once again receive a range of sales commissions will eat into the savings of many Australians, and that’s something consumers should take into account when they’re thinking about which fund offers the best performance”, Whiteley said.
“The prospect of weakened consumer protections just serves to strengthen the case for boosting Australians’ awareness about how they can protect and grow their super savings.”
Whiteley said that the campaign points to a comparative analysis of fees which, together with investment performance over the last decade, shows that industry super funds have provided “better value to members” on average than the retail super fund sector.
