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Mercer helps members 'stress test' their superannuation
The recent volatility in the share market is leading more people to engage with their super, according to Mercer Financial Advice leader Jo-Anne Bloch.
Mercer has recorded a 15 per cent increase in enquiries to its helpline for Mercer Super Trust and stand-alone trusts operated by Mercer in the past fortnight.
"Not surprisingly, market volatility has driven a spike in enquiries across all our engagement channels. It is important members can access advice and tools which allow them to make informed decisions in the context of their own investment horizon and objectives," she said.
In an attempt to help members of the Mercer Super Trust 'stress test' their super, Mercer provides a Retirement Income Simulator on its website. Members can gauge what effect future volatility in the share market will have on their income in retirement.
A recent Mercer survey found that 61 per cent people who used the simulator said they intended to take action regarding their superannuation in the next 12 months.
"When members use Mercer's Retirement Income Simulator they're able to replicate the reality of life, and the reality of investment markets. This gives them a longer term perspective on the short term fluctuations and is proving to be an effective means of kick-starting members into action," said Bloch.
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