POWERED BY MOMENTUM MEDIA
Super funds need more digital tools
Superannuation fund members want better online retirement planning tools, more online interaction and better member education, research from financial services software firm SS&C Technologies Holdings has found.
Although members were satisfied with their super offering, over 80% of the respondents in the Q3 survey said they had not accessed any retirement planning tools on their fund’s website and 59% said they were unaware of how to use them.
Members also expressed a strong preference for mobile apps, as well as more conversations with their fund on key topics such as retirement planning, regulatory changes and product fees.
Over a third (38%) of respondents said they wanted to engage with their super fund about planning for their retirement.
SS&C Australia managing director, Jude Metcalfe, said the survey showcased the opportunity for super funds to differentiate and secure loyalty from existing members and attract new ones.
“As super funds navigate through a constantly evolving and increasingly competitive environment, digital experiences can significantly improve member outcomes resulting in retention,” Metcalfe said.
“The challenge is to take advantage of the technological sophistication and flexibility available to implement digital tools customised to the ever-evolving way members engage.”
The SS&C Superannuation Stealth Survey was conducted in Q3 2020 with a sample of 208 respondents, aged above 18, who were members of a superannuation fund.
Recommended for you
The lower outlook for inflation has set the stage for another two rate cuts over the first half of 2026, according to Westpac.
With private asset valuations emerging as a key concern for both regulators and the broader market, Apollo Global Management has called on the corporate regulator to issue clear principles on valuation practices, including guidance on the disclosures it expects from market participants.
Institutional asset owners are largely rethinking their exposure to the US, with private markets increasingly being viewed as a strategic investment allocation, new research has shown.
Australia’s corporate regulator has been told it must quickly modernise its oversight of private markets, after being caught off guard by the complexity, size, and opacity of the asset class now dominating institutional portfolios.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
