Up to 55 per cent of Australians would be prepared to pay a small fee to protect their superannuation and stay invested in the stock market, according to the latest Newspoll survey.
The research, released by AXA Australia, also found one in four Australians believe their superannuation balance had fallen by less than 10 per cent in the last twelve months.
A further 19 per cent of the 400 Australians surveyed felt their balance had fallen by 10-20 per cent, while 14 per cent said their superannuation had fallen by more than 20 per cent over the same period.
The survey also found many Australians did not know where their superannuation money was invested, according to AXA general manager sales and marketing Adrian Emery.
“The current market conditions are a vital reminder to us all to dust off our super statements and check that you are comfortable with your investment choice.” Emery said.
The findings also indicated only 40 per cent of Australians thought they had enough superannuation to live comfortably in retirement, while 54 per cent said they were not confident and 5 per cent were unsure.
The survey found confidence is higher among the older age groups, with only 37 per cent in the 45-49 age range and 35 per cent in the 50-54 age range confident they will have enough to retire comfortably, compared to 43 per cent in the 55-59 age group and 50 per cent in the 60-64 age group.
