POWERED BY MOMENTUM MEDIA
Jargon an impediment to superannuation engagement
Australians are still baffled by the jargon surrounding superannuation, according to new research released by Virgin Super.
The research, released today, found that this confusion around jargon was acting as an impediment to people engaging with their superannuation.
The research is the result of a survey conducted by Galaxy Research (Galaxy) of 1,010 Australians, and has been used as the basis of a call by Virgin Super for a review of superannuation industry terminology.
It said the research had conclusively demonstrated the existence of a link between jargon and consumer apathy, with three in four respondents saying that superannuation terminology acted as a barrier to them engaging with their super fund.
Commenting on the outcome of the survey, Virgin Money commercial director David Curneen said disengagement in the face of jargon was particularly evident among the younger age group.
"A review of super industry terminology would deliver benefits to Australia, and the research demonstrates that the vast majority of Australians support his idea," he said.
Recommended for you
Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.56 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.06 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
26.81 3 y p.a(%)
