Su­per gains some trac­tion

Townsville Bulletin - - Your Money - townsville­bul­letin. com. au

ARE you en­gaged, dis­in­ter­ested, be­twixt or su­per con­trolled?

These are the new terms coined to de­scribe how peo­ple feel about su­per­an­nu­a­tion, ac­cord­ing to the first Aus­tralian sur­vey to mea­sure knowl­edge and attitude to sav­ing for re­tire­ment.

Ac­cord­ing to re­search by the Aus­tralian In­sti­tute of Su­per­an­nu­a­tion Trustees and Rus­sell In­vest­ments, 85 per cent of peo­ple now con­sider su­per to be im­por­tant while only 5 per cent con­sid­ered it of no im­por­tance.

Young Aus­tralians have a grow­ing in­ter­est in su­per, with al­most 50 per cent of 26 to 35-year-olds say­ing it is very im­por­tant to them right now.

A fur­ther one in three 18 to 25-yearolds also rank su­per as a pri­or­ity now.

‘‘ More Aus­tralians are tun­ing into su­per and we are quite pleased with the level of en­gage­ment among young peo­ple – it cer­tainly ap­pears higher than a few years back,’’ AIST chief ex­ec­u­tive Fiona Reynolds says.

Rus­sell In­vest­ments man­ag­ing di­rec­tor Geoff Peck says more and more peo­ple also put su­per ahead of other fi­nan­cial and in­vest­ment op­tions.

Some 56 per cent of those sur­veyed said it was more im­por­tant for their sit­u­a­tion to put money into su­per than to in­vest di­rectly in the share mar­ket.

About 33 per cent said su­per was more im­por­tant than prop­erty in­vest­ments and 28 per cent thought it ranked higher than build­ing up sav­ings in a bank or term de­posit.

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