POWERED BY MOMENTUM MEDIA
REST raising young members' awareness
 |
| Damian Hill
|
Big retail industry fund REST has launched a new education push on the back of the fund's own analysis that has revealed that as many as 300,000 of its members have not even provided their tax file number.
The fund announced this week that the problem demographic was 18 to 30 year olds, with many of the same people also not taking advantage of the potential benefits which flowed from consolidating their superannuation accounts or making voluntary contributions.
Commenting on the new education push, REST chief executive Damian Hill said that if people engaged in their superannuation at a younger age they would be in a much better position when it came to retirement.
"By getting organised now, they can boost their eventual super payout by many thousands of dollars," he said. "All they need to do is take a few minutes to sort out their super in three easy steps - provide their TFN, make extra contributions and consolidate their super."
AUTHOR
Mike Taylor
Recommended for you
Large superannuation accounts may need to find funds outside their accounts or take the extreme step of selling non-liquid assets under the proposed $3 million super tax legislation, according to new analysis from ANU.
Economists have been left scrambling to recalibrate after the Reserve Bank wrong-footed markets on Tuesday, holding the cash rate steady despite widespread expectations of a cut.
A new Roy Morgan report has found retail super funds had the largest increase in customer satisfaction in the last year, but its record-high rating still lags other super categories.
In a sharp rebuke to market expectations, the Reserve Bank held the cash rate steady at 3.85 per cent on Tuesday, defying near-unanimous forecasts of a cut and signalling a more cautious approach to further easing.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
99.46 3 y p.a(%)
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
78.55 3 y p.a(%)
4
BetaShares Crypto Innovators ETF
50.39 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
47.50 3 y p.a(%)
