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Australians take their time
Australian have decided not to be rushed by the advent of the new choice of superannuation fund regime.
That is the finding of a survey conducted by Mercer Human Resources Consulting in the days immediately preceding implementation of choice, with the data showing that consumers actually became more conservative the closer they got to having to make a decision about the future of their superannuation.
It showed that of those respondents who had indicated they might be likely to change funds in earlier surveys, 10 per cent said they had become less certain.
What is more, those who had indicated they were staying in their existing fund for now, but might reconsider their options later, shrank from 15 per cent to just 5 per cent, while those who said they were unlikely to change swelled from 24 per cent to 34 per cent.
Business leader for Mercer Wealth Solutions said the poll results reflected a likely “growing sense of loyalty” among super members towards their employer’s default super fund.
“It seems some members made a decision to remain with their existing super fund on the eve of super choice. There was a shift by members away from fence-sitting toward loyalty,” Mr Anderson.
AUTHOR
Mike Taylor
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