From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...
Super director remuneration ...
No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...
Brighter Super is considerably scaling down the investment options it offers members in order to reduce costs. ...
The $9 billion fund is backing agriculture investor GO.FARM, with its capital already directed towards enhancing two key assets. ...
Financial advice is having a significant impact on how Australians are engaging with the more complex aspects of their superannuation, new findings have shown. ...
Maybe customers haven't moved because:
A. They don't open their super statements or correspondence anyway so yet to know they're in a underperforming fund.
B. Past performance isn't an indication of future performance
C. Most 'poor performing' funds did double digit returns, maybe we will see more changes in a year where 'poor performance' is actually a negative return.
D. People understand that they can lose more money through buy/sell, market timing and CGT by regularly switching funds that can be more detrimental than 50bps.
E. Customer have no idea what YFYS, TMD, DDO or any other acronym introduced in the past 5 years really is or how it impacts them.
Lets face it, Australians need to improve their financial literacy and stop using default funds, which means super providers need to make the customer experience easier to take control of their underlying investments in super and provide more up to date information about where their money is actually invested.