Super fund satisfaction up in December

The overall super fund satisfaction rating has grown by 6.7% to 71.5% in December, 2021, from a year ago, with UniSuper and Macquarie scoring the highest customer satisfaction rating across the industry and retail funds, respectively.

The Roy Morgan’s Superannuation Satisfaction Report, which covered the six months from July to December, found the strong performance of the stock market during the last 18 months was one of the factors which helped to drive satisfaction in industry funds to new highs in 2022.

UniSuper, which topped the ranking and saw its satisfaction levels go up 8.1% on a year ago, was followed by Cbus (5% up) and Sunsuper which scored an exceptional result of 14.6% growth.

At the same time, the satisfaction in retail funds grew by 7.2% points year-on-year, with Macquarie being followed by OnePath, ASGARD, Colonial First State, MLC, IOOF, Mercer, BT and Suncorp.

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The customer satisfaction for public sector funds was also near record highs and stood at 77% in December, up 3.9% points on a year ago.

However, the report found, that the highest customer satisfaction was again for self-managed super funds (SMSFs) at 80.1%, which experienced the largest increase of 8.5% points compared to a year ago.