POWERED BY MOMENTUM MEDIA
‘Don’t dismiss super balance’: Equip
Superannuation members are at risk of retiring with a lower balance as they are overly-focused on other assets such as cryptocurrency, according to Equip.
There had been a boost in exposure to cryptocurrency and stockmarket trading since the pandemic, some of which was driven by social media and finfluencers, and many had made investments for the first time.
Equip said this had come at the cost of interest in super as almost one in three of the 2,000 people surveyed by Equip said they had “no idea” how much they held in their super and more than a third said they knew the “ballpark amount”.
Equip chief executive, Scott Cameron, said: “While more investment options are emerging, superannuation remains one of the most important financial assets.
“It’s concerning that so many Australians have no idea how much they’ve actually saved after years of hard work.
“We’re entering a new age of investing, with new products like cryptocurrency and NFTs capturing the public imagination. But this shouldn’t be to the detriment of tried and tested investment products, like super.”
He suggested people take a closer look at their balance and how they could use their super fund to achieve the best returns such as by changing risk portfolio.
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
Recommended for you
The fund has launched a new tool to help deliver personalised financial education and digital personal advice to eligible members.
The QAR lead reviewer has told a Senate committee that the government’s demands of super funds conflict with their original purpose.
The Joint Associations Working Group has identified four key issues with the $3 million super tax that need to be addressed before the bill is legislated, including the major concern of taxing unrealised capital gains.
The industry body has recommended an approach that recognises unique advice needs, noting current super regulation and legislation is “overwhelmingly designed with simple, default arrangements in mind”.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI First Close USD
66.48 3 y p.a(%)
2
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.89 3 y p.a(%)
3
Fidante Credit Suisse Global Private Equity
29.80 3 y p.a(%)
4
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
27.33 3 y p.a(%)
5
CFS Acadian Wholesale Global Equity Long Short A
26.35 3 y p.a(%)
