Melbourne-based Kinetic Super has launched a mobile app to keep customers more aware of their super and assist in closing the $15 billion gap of retirement wealth sitting in unclaimed super accounts.
The app will allow members to view their account balance, update their details, and browse and change investment options on their personal mobile device.
There are also extended options to combine accounts, change account beneficiaries, nominate to take super to new jobs, and to check and change personal insurance covers.
Kinetic chief executive, Andrew Barnett, said the fund has continuously searched for innovative and digital ways to keep customers invested and aware of their super.
"We understand that Australians today want to access everything in the palm of their hand. That now includes their superannuation account," he said.
"Introducing a mobile app is the first of many innovative plans we have in our long-term digital strategy to engage with our members and make super more relevant and important to their financial futures."
In its pre-election policy document, the FSC highlighted 15 priority reforms, with superannuation featuring prominently, urging both major parties to avoid changing super taxes without a comprehensive tax review.
The Grattan Institute has labelled the Australian super system as “too complicated” and has proposed a three-pronged reform strategy to simplify superannuation in retirement.
Super funds delivered a strong 2024 result, with the median growth fund returning 11.4 per cent, driven by strong international sharemarket performance, new data has shown.
Australian Ethical has seen FUM growth of 27 per cent in the financial year to date.