POWERED BY MOMENTUM MEDIA
UniSuper launches new comparator tool
UniSuper has launched a comparator tool that allows its members to see how their super savings are tracking against other members of the fund.
The fund's new tool, Compare Me, is also aimed to help the fund's members reach their retirement goals by enabling them comparison of their current balance to the average super balance of other members based on similar age, gender, and product.
Additionally, after taking into account an individual member's comparable super balance and their stage of life, the tool will subsequently offer tailored suggestions for members, such as recommendations to use a budget planner or consolidating accounts.
According to UniSuper chief executive officer, Kevin O'Sullivan, retirement adequacy remained a key issue facing the superannuation sector.
"In our view, superannuation's primary purpose is to smooth consumption over a person's life by replacing income from employment with income from retirement savings," he said
"By allowing individual members to compare their situation to other members with a similar profile, we are able to give a clear indication of how they are progressing toward their retirement goals.
"We can then also provide tips and support to help them improve their current situation, sooner rather than later."
Recommended for you
The impact of identity theft and its threat to superannuation savings were highlighted in a case that went before the Federal Court at the end of 2023.
A recent NSW Supreme Court decision is an important reminder that while super funds may be subject to restrictive superannuation and tax laws, in essence they are still a trust and subject to equitable and common law claims, says a legal expert.
New research from the University of Adelaide has found SMSFs outperformed APRA funds by more than 4 per cent in 2021–22.
The SMSF Association has made a number of policy recommendations for the superannuation sector in its pre-budget submission to the government.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
