Thursday, March 6th, 2014

Satisfaction with the financial performance of superannuation in the six months to January 2014 was 53.5%, up 6.9% points since January 2013. Self Managed Super Funds (73.1%) remain the clear leader, followed by Industry Funds (54.4%) and Retail Funds (52.0%). These are the latest findings from the January 2014 Roy Morgan Research ‘Superannuation Satisfaction’ report based on over 30,000 interviews with people per annum with Superannuation.

Retail funds have made up ground on their Industry rivals with regards to satisfaction with financial performance, increasing in the period January 2013 to January 2014 from 41.9% to 52.0% (+10.1% points), compared with Industry funds increasing from 48.7% to 54.4% (+5.7% points) and SMSF’s increasing from 72.2% to 73.1% (+0.9% points) over the same period.

Satisfaction with the Financial Performance of Superannuation


Source: Roy Morgan Single Source (Australia), 6 month rolling, average sample size = 15,500. Base: Australians 14+ with Work Based or Personal Superannuation.

At a Retail brand level,  the increase in satisfaction in the 12 months to January 2014 varies across the major brands, with the biggest improver being MLC, from 39.5% to 56.2% (+16.7% points), AMP increasing from 35.5% to 49.2% (+13.7% points) along with the ANZ owned OnePath increasing from 37.2% to 47.8% (+10.6% points).

Satisfaction with the Financial Performance of Retail Superannuation Funds


Source: Roy Morgan Single Source (Australia), Base: Australians 14+ with Work Based or Personal Superannuation. 6 months to January 2013 n = 14,973. 6 months to January 2014, n = 14,204.

Norman Morris, Industry Communications Director, Roy Morgan Research, says:

"Overall satisfaction with financial performance of superannuation is at the highest level since December 2008, when satisfaction decreased in light of the global financial crisis. This renewed optimism in financial performance has been particularly evident in recent times amongst the Retail Funds which incurred greater losses in the aftermath of the crisis.


“With growing competition between the Industry and Retail funds for market share and the rapid expansion of the SMSF sector, satisfaction with financial performance is increasingly a factor that fund managers should be taking notice of. Our research shows that there is a strong correlation between satisfaction with superannuation financial performance and the likelihood of switching funds.”

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Roy Morgan Research

Roy Morgan Research is Australia's best known and longest established market research and public opinion survey company. Roy Morgan Single Source is thorough, accurate, and provides comprehensive, directly applicable information about current and future customers. It is unique in that it directs all the questions to each individual from a base survey sample of around 55,000 interviews in Australia and 15,000 interviews in New Zealand annually - the largest Single Source databases in the world. The questions asked relate to lifestyle and attitudes, media consumption habits (including TV, radio, newspapers, magazines, cinema, catalogues, pay TV and the Internet), brand and product usage, purchase intentions, retail visitations, service provider preferences, financial information and recreation and leisure activities. This lead product is supported by a nationally networked, consultancy-orientated market research capability.
Samantha Wilson
P: (03) 9224 5268


superannuation, finance, personal wealth, wealth management




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