Industry funds set for swift growth

Original article by Glenda Korporaal
The Australian – Page: 14 : 12-Jan-18

Australia’s industry superannuation funds now boast 6.8 million members, according to Roy Morgan’s Superannuation and Wealth Management report. In contrast, retail super funds have 3.9 million members. The report also shows that while the median age of all super fund members is 42.7 years, the median age of industry and retail fund members is 39.6 years and 45.7 years respectively. Meanwhile, the median balance of industry funds members is $A38,500, compared with the market average of $A57,800, although Roy Morgan attributes this to the lower median age of industry fund members.

CORPORATES
ROY MORGAN LIMITED, AUSTRALIAN PRUDENTIAL REGULATION AUTHORITY

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