Melbourne-based Kinetic Super has launched a mobile app to keep customers more aware of their super and assist in closing the $15 billion gap of retirement wealth sitting in unclaimed super accounts.
The app will allow members to view their account balance, update their details, and browse and change investment options on their personal mobile device.
There are also extended options to combine accounts, change account beneficiaries, nominate to take super to new jobs, and to check and change personal insurance covers.
Kinetic chief executive, Andrew Barnett, said the fund has continuously searched for innovative and digital ways to keep customers invested and aware of their super.
"We understand that Australians today want to access everything in the palm of their hand. That now includes their superannuation account," he said.
"Introducing a mobile app is the first of many innovative plans we have in our long-term digital strategy to engage with our members and make super more relevant and important to their financial futures."
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
While some superannuation funds have gone down the route of internalisation, others say they favour ‘smart partnering’ with external managers for diversification appeal.
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