Retail super funds face member flight

Original article by Cliona O’Dowd
The Australian – Page: 15 : 8-Jul-20

Research by KPMG suggests that nearly 25 per cent of retail superannuation fund members are likely to switch funds during the next year, compared with less than 10 per cent of industry super fund members. KPMG partner Tim Thomas says lower fees of industry funds is a major contributor to the expected exodus of retail fund members. However, he cautions that industry funds risk a similar loss of members if they do not take action to improve the quality of their services. KPMG has also found that nearly 80 per cent of consumers now prefer to interact with financial services providers via digital channels.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s