Industry super funds have seen strong growth in consumer satisfaction, according to statistics compiled by Roy Morgan.
Industry super funds saw improved consumer satisfaction with their financial performance in the 12 months to June 2018, the statistics show. The highest satisfaction growth was for super balances of $700,000 or more, which improved by 9.5% to 87.5%. For balances between $5,000 and $699,999 satisfaction improved by between 3.1% and 5.0%.
The only balance sector where retail funds outperform industry funds was for balances under $5,000 – 60.1% (up 10.9%) for retail to 48.1% (up 0.8%) for industry funds.. Though this sector represents only 0.1% of all superannuation balances.