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Link between good wellbeing and good super
People with a sense of wellbeing in their lives have better financial outcomes, BT believes.
BT said it is partnering wellbeing and superannuation in its new approach to draw together all key aspects of wellbeing — financial, health, family, community, workplace, and values.
BT Financial Group general manager of superannuation, Melinda Howes, said "our intention is to take super in a new direction, to change how Australians feel about their super from something a long way in the future to something that benefits them now".
According to BT's Australian Financial Health Index, Australians who gave themselves a physical fitness score of four or above out of five, 45 per cent gave themselves a financial fitness score of eight or above out of 11.
For those who rated themselves as not physically fit (score of one or two out of 15), just 22 per cent gave themselves a score of eight or above for their financial fitness.
"Super provides our future wellbeing and this is very powerful when aligned with initiatives that address our current wellbeing, including physical and mental health," Howes said.
"Companies want fitter, happier, and more engaged employees. Many of our super members also want to be healthier, more balanced and need help sorting out their finances."
The index also found financially educated Australians were getting better quality sleep than those less financially literate.
Those who agreed to "feeling financially educated", 67 per cent say their sleep quality is good or very good, compared to those who disagreed with the statement (43 per cent).
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