SMSF trustees more satisfied
Despite some questioning of the safety of self-managed superannuation funds (SMSFs), new research has confirmed SMSF trustees are generally more satisfied than members of other types of super funds.
The latest Roy Morgan Superannuation Satisfaction Report has confirmed earlier findings that SMSF trustees have remained positive about the funds' performance irrespective of the performance of the markets.
This contrasts with satisfaction levels with respect to other types of super funds, which were generally down during the six months to the July survey period.
The Roy Morgan data revealed that in the six-month period, overall superannuation satisfaction had fallen by 1.9 per cent to 48.4 per cent, with the worst affected being retail fund satisfaction (down 3.1 percent), followed by industry fund performance (down 1.6 per cent).
However the research said SMSFs had bucked this trend, with satisfaction increasing by 0.8 per cent to 67.3 per cent.
Commenting on the data, Roy Morgan Research industry communications director, Norman Morris, said there was a strong correlation between satisfaction with superannuation fund financial performance and the likelihood of switching funds.
AUTHOR
Staff Writer
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