Page 34 - How Australia Retires

33 Vanguard | How Australia Retires

Over 50% Contact with superannuation fund 76%
Figure 12. Relationship between consulting a financial adviser with
77% 1) level of contact with a superannuation fund in the last 6 months and 2)
of members who engage level of detail of retirement plan
a financial adviser
57%
also engage with their Contact with superannuation fund
54%
superannuation fund 77% 76%

35% 34%
57%
Members who seek professional 54%
financial advice are more than
twice as likely to connect with their
superannuation fund than those 35% 34%
who have not.

Ongoing Ad-hoc advice Never advised
Financial advisers may be relationship
directing Australians to engage
with their superannuation, but Contact with superannuation Positive significant di€erence
given the important role that fund within last 6 months compared to the total
superannuation funds play as
Ongoing
Never advised
Ad-hoc advice
a go-to source of retirement Contact with superannuation Negative significant di€erence
relationship
information, there is also an more than 6 months ago/ compared to the total
never contacted
opportunity for superannuation Q. When was the last time you got in touch with your superannuation fund?
fund trustees to develop highly Contact with superannuation Positive significant di€erence
fund within last 6 months
compared to the total
personalised and relevant
experiences (particularly digital) Detail of retirement plan Negative significant di€erence
Contact with superannuation
to surface member insights more than 6 months ago/ compared to the total 81%
and subsequently recommend never contacted
possible actions members can
easily take to improve their
retirement outcomes. 62% 65%
Detail of retirement plan
81%
48% 49%
62% 65%
27%

48% 49%

27%
Well planned Moderately Not well
planned planned

Contact with superannuation Positive significant di€erence
fund within last 6 months compared to the total
Well planned
Moderately
Not well
Contact with superannuation Negative significant di€erence
planned
more than 6 months ago/ planned compared to the total
never contacted
Contact with superannuation Positive significant di€erence
compared to the total
fund within last 6 months
Q. Do/did you have a clear plan (either formal or informal) for how you will/would
financially prepare to reach the retirement lifestyle you want?
Contact with superannuation Negative significant di€erence
more than 6 months ago/ compared to the total
never contacted