Consumer satisfaction with superannuation fund

SMSFs maintain satisfaction lead over industry & retail super funds

SMSF satisfaction, industry super fund, retail super fund, Roy Morgan ResearchSMSFs have maintained a “clear lead over the other major types of funds as measured by satisfaction with financial performance,” over the last thirteen years, according to Roy Morgan Research.

In the six months to January 2015 SMSFs had a satisfaction rating of 77.3%, followed by industry super funds at 59.0% and retail super funds at 56.3%.

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Industry super funds lead retail funds for member satisfaction

Australians have been more satisfied with the financial performance of industry superannuation funds compared to retail super funds for over a decade, according to new research by Roy Morgan.

Industry super funds recorded 59.2% satisfaction in December 2014, compared to 56.5% for retail super funds.

Industry super funds have maintained this lead in terms of satisfaction over retail super funds for at least a decade, with a lead of 2.7% in December 2014, compared to 3.0% in 2002.

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Australians more satisfied with SMSFs than large super funds

Australians more engaged and satisfied with SMSFs than large super fundsResearch has found that Australians are “more likely to be engaged and satisfied” with SMSFs than other superannuation funds.

The 2014/15 Superannuation Benchmarking Study by Engaged Marketing measured the ‘Net Promoter Score’ of large super fund brands and SMSFs. It found large super funds scored an average of -29%. This means that these funds, on average, had 29% more “detractors than promoters.” This compares to -5% for SMSFs. The worst performing fund scored -53%.

Engaged Marketing Managing Director Christopher Roberts said these results are a “wake-up call to super funds about the growing appeal of SMSFs.”

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