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(December-2002) Members still ignorant of super issues
Safety, tax and returns on superannuation are the top three concerns of some super fund members, but members on the whole remain largely unaware of issues relating to super, new research conducted by ANOP has revealed.
“The concern about safety and possible fund collapses reflects broader insecurity about corporate collapses… Tax on super emerges as a slightly greater concern than low returns, despite media focus on returns and despite most members having recently received their annual statements,” ANOP director, Rod Cameron, says.
Alarmingly, the survey also found that 60 per cent of respondents, without prompting, were unable to comment on any recent superannuation issues of note.
“Top of mind concern about the current low returns is not widespread, but instead restricted to the well informed and engaged minority. Three in 10 can nominate a percentage return, and only one in seven mention that they received a negative return. This low awareness is obviously one of the reasons for the muted reaction to the current poor returns,” Cameron says.
The research involved an initial polling of 706 people in July followed by the re-interviewing of 356 in October.
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