Pension fund members finally have something to cheer about, after seeing positive returns for their superannuation over the final four months of the 2008/09 financial year, following two years of watching their retirement savings diminish.
Superannuation research and consultancy firm Chant West’s latest pension performance survey has revealed a positive medium return of 8.8 percent for Growth options and 4.8 percent for Conservative Growth.
Commenting on the figures, Chant West principal, Warren Chant said pension members have been particularly hard hit by the financial crisis, with two years of negative growth.
He said despite the positive figures, the final result for the year was still negative and if pensioners were to get hit by another round of losses they could be in trouble.
“I would suggest that they take some professional advice to make sure they are invested in the most appropriate option,” he said.
Retirees suffering in crisis