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Even happy fund members consider SMSFs
Most people working in the superannuation sector are happy with their existing superannuation fund, but that hasn’t stopped more than a third of them considering establishing a self-managed superannuation fund (SMSF).
The key finding has been revealed in a survey conducted by Money Management’s sister publication, Super Review, and sponsored by MetLife, during the recent Conference of Major Superannuation Funds (CMSF) on the Gold Coast, with the significance of the result being that most conference delegates were representatives of industry funds.
Asked whether they had considered establishing an SMSF, 37.2 per cent of respondents at the conference said they had, while 61.8 per cent said it was something they had not considered doing.
Interestingly, the same survey revealed that 94.5 per cent of respondents were happy with their existing superannuation fund arrangements in terms of the service they received and investment returns, with this number declining to 85.4 per cent with respect to their insurance cover.
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