Most super fund members agree that superannuation will be a key issue for the upcoming election, according to a recent survey.
A Sunsuper survey of 1000 members conducted by Galaxy Research has shown that 68 per cent of members believe superannuation will be an area to watch in the lead-up to the election.
Over half (57 per cent) were worried rumoured changes to the superannuation system would negatively impact them, with baby boomers (76 per cent) the most anxious about possible Government interference.
Over half (56 per cent) of baby boomers felt potential changes to the system were eroding their confidence in superannuation.
Sunsuper customer experience and insights general manager Teifi Whatley said the results of the survey showed members felt super was important — but were losing confidence in its ability to act as a retirement-savings vehicle due to Government tinkering.
"It's important that any changes to the system must be made in the context of the key objective of superannuation, which is to provide Australians with a financially comfortable life in retirement," Whatley said.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
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.
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