SMSF satisfaction levels still high
While some might argue that those who are unhappy with the performance of their self-managed superannuation funds (SMSFs) only have themselves to blame, new research released by Roy Morgan Research suggests the picture is much more complicated than that.
The research, released last week, confirmed that SMSFs led the way when it came to member satisfaction, with 72 per cent being happy with the performance of their funds.
However the research also points to the fact that, just like members of mainstream superannuation funds, the level of satisfaction is largely driven by the level of investment returns.
The better performing markets last year meant that satisfaction levels with respect to SMSFs rose from 68.5 per cent in 2009 to 72.9 per cent last year.
Also reasonably satisfied with their funds were those who were members of public sector funds, with 59.5 per cent, followed by industry funds with 54.3 per cent.
However the Roy Morgan research seemed to reflect the fact that retail master trusts had outperformed industry funds last year, with the increase in satisfaction levels among industry fund members being lower than that for retail master trusts.
Confirming satisfaction levels among SMSF trustees, the research found that those who had purchased superannuation products through an accountant were the most satisfied, followed by those who purchased directly through a financial institution.
AUTHOR
Mike Taylor
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