SMC launches online campaign to improve super | Australian Markets
The Super Members Council (SMC) has unveiled a new social media campaign designed to enhance youthful Australians’ engagement with their superannuation, forward of the Superannuation Guarantee’s scheduled increase on 1 July.
The 0.5 per cent increase to come into impact originally of the following financial 12 months will see working Australians obtain 12 per cent in legislated superannuation comes at a time when analysis exhibits engagement with superannuation – significantly with millennials – stays concerningly low.
According to the Australian Securities and Investments Commission (ASIC), 48% of millennials say they don’t seem to be very or under no circumstances educated about how to maximise their super and 31% say they solely test their super’s efficiency much less than as soon as a 12 months or under no circumstances.
The video campaign kinds half of a wider initiative applied by the SMC titled ‘How Super Works’, which targets youthful Australians and seeks to grow their information and awareness of superannuation earlier than they arrive close to retirement age. The SMC has additionally developed new superannuation content material made out there by way of its web site.
“This increase to people’s super is a powerful step forward for Australians’ financial futures. But too many people don’t yet know it’s happening,” SMC chief govt, Misha Schubert, stated.
“That’s why we’re releasing this video—to raise awareness and help Australians take advantage of of their super. We know that when people higher perceive what super is and how it’s going to help their retirement, they’re more possible to interact—and that engagement could make a actual distinction.
“When Australians perceive how super works, have an expectation will probably be vital to their wellbeing in retirement, and take a nearer curiosity of their super, they’re much more possible to take actions like evaluating charges, checking their investment choices, making extra contributions, and checking for lacking super contributions.
“July’s savings boost is a great reminder that your future is worth investing in. A few small steps today can mean a much more secure tomorrow.”
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