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Investors respond well to super changes

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By Reporter
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2 minute read

Suncorp Financial Planners notches up record number of financial plans in the last 12 months.

Suncorp Financial Planners believe investors are heeding the call to put more into super with the group posting a record number of financial plans in the last 12 months.

The group has experienced increases of 160 per cent from this time last year.

In addition, the planners have also seen a dramatic rise in the dollar values of financial plans, up 82 per cent since May 2006.

Commenting on the increase, Suncorp general manager distribution, Vicki Doyle, said: "The planners are reporting that investors are keener than ever to focus on superannuation - whether that is within the accumulation phase or pension phase - with customers opting for either allocated pensions or term-allocated pensions.

"We're seeing a lot of cash contributions and selling down of share portfolios and managed funds to invest into super or pensions, as well as quite a few clients selling properties."

Investors have less than a month remaining to contribute $1 million under the transitioning arrangements which close on 1 July when the new legislation comes into force.