Original article by Roy Morgan
Market Research Update – Page: Online : 24-Jan-24

New data from Roy Morgan’s Superannuation Satisfaction Report shows an overall super fund satisfaction rating of 65.9% in November 2023, an increase of 0.9% points from July (65.0%). However, satisfaction with super funds is still significantly higher than the long-term average of 58.2% from 2007-2023, and also higher than at any time prior to the pandemic years of 2021-22 when the measure was at record highs. Customer satisfaction for Industry Funds is down 1.4% points to 68.2% compared to a year ago, although this is the smallest decline of any of the four super fund categories. Customer satisfaction with Retail Funds has declined by 2.7% points to 58.9%, and this category continues to have clearly the lowest customer satisfaction of any of the four categories. Customer satisfaction for Public Sector Funds has in turn declined by 3.2% points from a year ago to 70.7% – the largest decline for any of the super fund categories. A standout performer over the past year has been Self-Managed Funds, which have increased their customer satisfaction by 1.9% points to 75.8% and clearly the highest customer satisfaction of any of the four super fund categories. This is the highest level of customer satisfaction for Self-Managed Funds since May 2022. The report’s findings are from Roy Morgan Single Source, Australia’s most trusted consumer survey, compiled by in-depth interviews with over 60,000 Australians each year.

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