Aged care has become a critical issue for superannuation members looking to plan for themselves and those looking to plan for their parents, according to Energy Super.
The fund said there were many members who were unsure where to turn for help.
Energy Super chief executive, Robyn Petrou, said "from the overwhelming response we've had to our [aged care] seminars, it's clear that Australians are crying out for help with this issue. For many it's something they've never encountered before and have been unsure where to turn for help," she said.
Due to this growing interest, the fund's financial advisers have received aged care accreditation to provide advice solutions on the aged care industry, aged accommodation choices, and the services provided by ACAT, Home Care, Centrelink and Veterans' Affairs.
"Initially we thought the interest would be predominantly from members aged over 60 years looking to plan their future, but we've had an equal amount of interest from members aged 40 to 50 years needing to help their parents.
The super fund has significantly grown its membership following the inclusion of Zurich’s OneCare Super policyholders.
Super balances have continued to rise in August, with research showing Australian funds have maintained strong momentum, delivering steady gains for members.
Australian Retirement Trust and State Street Investment Management have entered a partnership to deliver global investment insights and practice strategies to Australian advisers.
CPA Australia is pressing the federal government to impose stricter rules on the naming and marketing of managed investment and superannuation products that claim to be “sustainable”, “ethical”, or “responsible”, warning that vague or untested claims are leaving investors exposed.