Total superannuation could be $52.5 billion higher in a decade, in today’s dollars, if all Choice super accounts were switched over to MySuper, new research has found.
“Higher returns and lower fees of MySuper products could continue to have a material impact on the superannuation market over the next 10 years,” says RiceWarner. RiceWarner was commissioned to conduct the research by the Australian Institute of Superannuation Trustees (AIST).
“There is a general view that members who choose to invest their superannuation assets outside MySuper products should achieve a better outcome as they are tailoring their investment decisions to their personal circumstances and financial goals. However, our analysis shows that this is not generally the case.”