Online superannuation educator Money101 is preparing to release a free online education resource to combat what it claims is persistent anxious consumer behaviour over superannuation.
"Even though consumers are anxious over their super, they're not engaging with it," said education manager Donna Ewing.
Consumers need to become more educated about superannuation as contributions are set to rise to 12 per cent of total income and Stronger Super is implemented, Ewing said.
There was a lot of confusion around superannuation and the changes that were going to be occurring, she said.
Fifty per cent of superannuation fund members don't read their member statements properly, according to Ewing.
The online resource would look at government co-contributions, the transition to lower contribution caps, and low income super contributions.
Ewing criticised most information provided to consumers about the changes as being too technical and difficult to understand.
Most information was hidden in industry journals which consumers weren't reading, she said.
"We want them to be asking questions, and communication is vital between the fund and the member," she added.
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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