Satisfaction with industry funds increasing while total market satisfaction declines

Original article by Roy Morgan
Market Research Update – Page: Online : 8-Apr-19

The latest findings from ‘The Roy Morgan Superannuation Satisfaction Report’ shows that industry funds improved their satisfaction rating by 0.9% points (to 62.1%) in the year to February 2019. Satisfaction with retail funds fell to 55.7% (down 3.5% points), and satisfaction with self-managed super funds was 73.4% (down 0.1%). The report shows that industry funds have higher satisfaction than retail funds across all balances. Over the last year, retail funds have shown declines in satisfaction at all levels, with the biggest decline being a drop of 14.3% for members with balances of less than $5,000. There was also an 8.0% point decline for those with balances of $700,000 or more. Meanwhile, of the 15 best performing industry and retail funds, Unisuper with a satisfaction rating of 71.2% was well ahead of second placed HESTA (68.3%) and Cbus (66.6%). The report is based on in-depth interviews conducted face-to-face with over 50,000 consumers per annum in their homes, including over 30,000 superannuation fund members.

CORPORATES
ROY MORGAN LIMITED, UNISUPER LIMITED, HEALTH EMPLOYEES’ SUPERANNUATION TRUST AUSTRALIA LIMITED, CONSTRUCTION AND BUILDING UNIONS’ SUPERANNUATION FUND

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