Brief: Industry super gives more satisfaction

Banking Day staff Briefs

Over the last 12 months industry super funds have increased their lead over retail funds in terms of member satisfaction with their financial performance, as measured by research firm Roy Morgan. In May 2019, industry funds scored a 62.5 per cent satisfaction rating among their members, well above retail funds (56.5 per cent). The best performer across all major industry and retail was Unisuper with 70.9 per cent 'satisfied' or 'very satisfied' members, closely followed by Tasplan (69.6 per cent), the latter now negotiating a merger with the MTAA fund.