Page 31 - How Australia Retires

30 Vanguard | How Australia Retires

Insight 05

Superannuation is still the

foundation of retirement savings

As a significant portion Superannuation funds also need
of superannuation to understand the extent to
which their current products and
fund members are now digital experiences meet their
approaching or in the member needs, as well as how
retirement phase , fit-for-purpose strategies and the
7
provision of advice and guidance
superannuation fund to members may improve their
trustees are turning their engagement and experience.
attention to delivering It is widely expected that member
stronger outcomes for expectations will continue to
members approaching evolve, whereby they will want
and in retirement. advanced levels of service delivery,
communications and interaction,
and engagement with their
To retain and grow this segment, superannuation funds.
superannuation funds need a better
understanding of their members,
including what support they need
and expect from their fund, what
their pain points are, and how they
make decisions regarding their
superannuation and retirement.

7. Source: KPMG, Super Insights 2022