Boomers turn to the net to access superannuation
MLC has found increasing numbers of clients turning to the internet to conduct their superannuation affairs, with more members logging into their accounts and more financial advisers making online applications.
MLC found that older generations were more likely to engage with their superannuation online, reflecting a growing number of reports that these generations are generally more active with their superannuation.
MLC MasterKey general manager Dean Thomas said the results were unsurprising, considering sustained market volatility and the likelihood that users were nearing retirement or already retired.
"Baby boomers and retirees may lag behind their children and grandchildren when it comes to overall internet usage, but they're far more likely to access their superannuation accounts online," he said.
Thomas said MLC wanted to see more of its young clients following in the older generation's footsteps and utilising the internet to manage their superannuation.
"Becoming more familiar with your super by accessing your account online is the first step to being more engaged with the management of your retirement savings now and into the future," he said.
"People who don't start thinking about superannuation until they reach the pre-retirement phase often find it's too late to bolster how much money they have to retire on."
Online adviser applications have risen by 24 per cent year-on-year, according to MLC.
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