Average account balances not true picture of super savings

average superannuation balances, average superannuation member balance, average superannuation account balance, RiceWarner, account consolidationUse of average superannuation account balances, rather than average member balances, is creating a misleading picture of Australia’s superannuation savings.

According to RiceWarner the average superannuation account balance would be 79% higher than suggested by statistics if all members accounts were consolidated.

Research by RiceWarner indicates if all super fund members, excluding pensioners, consolidated their multiple superannuation accounts the average account balance would increase from $50,300 to approximately $90,000. Read more...