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Industry funds give more satisfaction
Industry fund members are more likely to be satisfied with their superannuation than members of retail master trusts, according to new research released by Roy Morgan.
The research, published this month, said that industry funds had a satisfaction level of 50.8 per cent overall, compared to the retail funds where satisfaction levels were in the range of 38.5 per cent to 48 per cent.
However those most likely to be satisfied with their fund were those who had set up self-managed superannuation funds where satisfaction stood at 68.5 per cent.
The Roy Morgan research findings also proved to be negative with respect to the role played by financial planners in superannuation.
It found that satisfaction with superannuation obtained through a financial adviser stood at 48.8 per cent compared to the 49.2 per cent.
The research analysis said this meant that those who used financial advisers were likely to question whether the performance of their superannuation investments justified the additional cost, compared to using default employer schemes.
AUTHOR
Mike Taylor
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