Consider industry

Employers can have a decisive impact on the retirement incomes of their employees through their choice of default superannuation funds, according to .

Utilising ongoing research into the relative performance of superannuation funds, Industry Fund Network spokesman said the reality was that the choice of default fund by employers was a crucial determinant in where millions of workers’ superannuation was saved.

He said for these reasons, employers needed to consider an industry fund when choosing the default superannuation fund for their organisation.

Weaven said the industry funds movement would be highlighting the important role played by employers, and arguing those employers that did not nominate an industry fund risked their employees missing out on tens of thousands of dollars worth of retirement income.