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AIST commission Essential Media to conduct research into the decision-making process of Australians who are in retail for-profit funds. With a growing body of evidence pointing to the persistent underperformance of many retail funds, particularly those in the non-default ‘choice’ sector, AIST was keen to explore how people end up in these funds and whether these members are aware of their fund’s performance. The research findings – from both qualitative focus group sessions and a quantitative online survey – suggest a large cohort of Australians are misinformed about how their super fund is performing and what type of fund they are in. AIST is calling on the Government and industry regulators to develop an easy-to-use online super comparator tool to help consumers make more informed decisions about their super.
21 May 2019