Couples have joint bank accounts to pay off their mortgage, their credit cards and other bills, and put savings aside to build a secure future. This requires mutual goals, planning and an overview of their combined financial position.
But when it comes to super, it’s a different matter: there’s no choice but to have an individual account.
While compulsory super is a success story, many fund members remain disengaged for a variety of reasons.
People are defaulted into their workplace super, where their employer’s contributions accumulate and remain locked in until retirement.
To complicate matters further, a new default account is opened every time someone moves to another job, giving rise to multiple accounts and more fees. Although people have the right to choose their own super fund, most don’t.
But even if fund members are engaged and do all they can to maximise their super by picking a good-performing fund with low fees, they do not have the option of opening a joint or linked account to oversee their pooled savings.
Better picture of future
Submissions to the federal government’s Retirement Income Review touched on the issue. Actuarial firm Rice Warner argued such accounts would lead to higher levels of engagement and higher levels of empowerment.
この記事は Money Magazine Australia の April 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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この記事は Money Magazine Australia の April 2023 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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