POWERED BY MOMENTUM MEDIA
Super the pits for many members
Nearly half of super fund members check their balance regularly but many would prefer to do any number of seemingly less enjoyable activities — even visit the dentist.
A Sunsuper survey of 1500 Australians found that although 46 per cent of Australians actively monitor their super multiple times a year, it was viewed as a chore, with 16 per cent saying they would rather give up TV for a week, 13 per cent preferring to visit the dentist and 7 per cent would rather a visit from their in-laws — while 6 per cent would prefer to holiday on a deserted island without any food.
Sunsuper customer service general manager Steve Travis said it was surprising how far members would go to put off managing their superannuation.
"It's alarming the lengths that many Australians will go to to delay looking at their super, especially when you consider that acting early can result in a much bigger pot of money and a more comfortable lifestyle in retirement," said Travis.
"Although superannuation isn't always top of mind, people should remember it's their money — and keeping on top of their super really isn't that hard."
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
88.01 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
