Industry superannuation funds set for growth

Original article by Roy Morgan
Market Research Update – Page: Online : 22-Dec-17

Of the 13.4 million Australians aged 14 and over with superannuation, 6.8 million (50.7%) are members of an industry fund. This is well ahead of retail funds with 3.9 million (29.1%) and all other types combined, which make up only 2.7 million. This is one of the major findings from the new 2017 edition of the Roy Morgan ‘Superannuation & Wealth Management in Australia’ report. Although the median balance of industry fund members is currently only $38,500, which is lower than the market average of $57,800, this has a lot to do with the lower median age of industry fund members. The current median age of their members is only 39.6 years, well below all other superannuation types and as a result they have the best long term growth potential. Self-managed superannuation fund members (SMSFs) have the oldest median member age with 59.0 years, followed by public sector funds (49.6 years) and retail funds (45.7 years).


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