Most people working in the Australian superannuation industry believe they are being adequately remunerated.
That is the bottom line to emerge from the latest IUS/Super Review Super Outlook survey, which reveals that few people are unhappy with what they are being paid.
Asked to look at the superannuation industry and its standing in the Australian financial services industry, respondents rated their level of remuneration when compared to other sectors.
Surprising many in the industry, nearly 60 per cent of respondents rated their remuneration level as being ‘excellent’ (11.6 per cent) or ‘good’ (47.3 per cent).
Perhaps even more importantly, a further 32.9 per cent of respondents rated their remuneration as being ‘adequate’, with only 8.2 per cent rating it as ‘poor’, and no one believing they were ‘very poorly’ remunerated.
Australia’s largest super funds have deepened private markets exposure, scaled internal investment capability, and balanced liquidity as competition and consolidation intensify.
The ATO has revealed nearly $19 billion in lost and unclaimed super, urging over 7 million Australians to reclaim their savings.
The industry super fund has launched a new digital experience designed to make retirement preparation simpler and more personalised for its members.
A hold in the cash rate during the upcoming November monetary policy meeting appears to now be a certainty off the back of skyrocketing inflation during the September quarter.