A new survey has revealed that the Federal Government and the financial services industry will have to move to restore confidence in superannuation as an investment destination in circumstances where nearly half of the survey respondents believed super is too complicated or out of their control.
The survey, commissioned by Suncorp, also revealed that 61 per cent of respondents were more concerned about having enough money to retire than losing their job or home during the current economic downturn.
Commenting on the survey outcome, Suncorp head of super and investments Vicki Doyle said the financial services industry clearly had a long way to go to help customers feel they were in the driver’s seat with respect to one of the biggest investments in their lifetimes.
Among the key findings in the Suncorp survey were that 49 per cent of respondents believed super was too complicated, 45 per cent felt it was out of their control and 39 per cent did not feel their superannuation balances were their own money.
