Seventy-four per cent of Australians believe that fees are either ‘extremely important’ or ‘very important’ when it comes to choosing a superannuation fund, according to a new survey commissioned by Industry Super Australia (ISA).
UMR Research conducted the survey of 1,000 Australians in September. Respondents were asked to choose from a list of seven factors they would consider when choosing a super fund.
Across all respondents, fees were listed as ‘extremely important’ by 40 per cent of those surveyed and ‘very important’ by 34 per cent. Sixty-four per cent of respondents thought a history of returns was important.
At the bottom on the list were ethical/green investments (rated important by only 34 per cent of respondents) and technology (35 per cent).
ISA public affairs director Matt Linden said the survey indicated that Australians are “quite right” to be focused on what they are being charged and what their superannuation is earning.
“Consumers can have confidence that differences in net returns provide a solid indication of the investment strategies and the effect of the all up costs of a super fund,” he said.
