Most employees are not fussed about topping up their superannuation, and are not concerned about changes to their super as a result of the global financial crisis according to SuperRatings.
A review of 12 million member accounts by SuperRatings has shown that just 3.4 percent of pre-retirement super savings have been transferred from medium- or high-risk portfolios to safer cash-style investments in the past year; as opposed to retirees’ savings which jumped to 14.5 percent at the end of April.
SuperRatings managing director Jeff Bresnahan said the findings suggested most workers were “still just going with the flow and not making any active choice”.
Bresnahan said that many are either unconcerned or unaware of the beating their super accounts have taken in the global financial crisis and may get a surprise when they receive their statements.
“Despite reading that super funds will suffer their second negative annual return in a row, many Australians still have this misguided perception that it is affecting everyone else but them. When the June 30 statements hit letterboxes from July to September, the reality might just start to kick in.”
People who read this, also liked:
Is superannuation really that super?
