Surging equity markets are pushing super funds to deliver their highest annual returns in over 20 years.

According to one of Australia’s leading industry super funds, the superannuation industry must seize the opportunity, whilst super is in the spotlight, to engage Australians and switch them on to the long term benefits of planning for their retirement.

General Manager of Tasplan, Neil Cassidy, believes that the sudden jump in the balances of Australia’s 30 million superannuation accounts will cause people to consider super in a new light and just maybe, begin to see it as a key to achieving a degree of independence and comfort in retirement.

“It’s an opportunity that superannuation funds must seize upon and use to educate members about the management of their super – they will never be more receptive.” Cassidy said.

“These high returns will capture the attention of members and make them listen to messages about their superannuation” Cassidy said. “Even young people, for whom retirement might be 40 years away, can appreciate the effect of a 15 – 20 percent return on their retirement savings.

Industry funds like Tasplan will be increasing their communication with members

In order to help them appreciate how their superannuation can deliver a  retirement outcome commensurate with a lifetime in the workforce.