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  • Money Magazine

    Take care of the future

    Jan 29, 2020 4 minutes
    STORY ANNETTE SAMPSON

    Super is a bargain with the future. We put money aside now and trust that it will be there when we’re older. When it works, that’s great. But for too many people, at least some of that trust is misplaced.

    The Productivity Commission last year found millions of fund members are losing out from flaws in the system, such as having unintended multiple funds and underperforming funds. Just addressing these two problems could collectively save members $3.8 billion a year and give a new job entrant today an extra $533,000 in retirement in 2064. Even a 55-year-old today could be $79,000 better off by addressing these issues.

    So where are we being shortchanged and what can we do

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