A focus on strong performance
SuperRatings' Pension of the Year 4 years in a row4
A recent state-wide QSuper member survey1 shows that 59% of Townsville residents surveyed find managing their finances stressful.
QSuper CEO Michael Pennisi said the Fund’s survey revealed Townsville households were grappling with a wide range of issues when it came to their finances.
“We know financial wellbeing throughout a person’s life is a key contributor to their outcomes in retirement and we were keen to understand at the household level what issues are top of mind.
“These were wide ranging – from the economy, to affordable health care, to interest rate rises,” he said.
In terms of specific worries, QSuper’s survey found that some of the top areas of financial concern and extreme concern for Townsville residents include:
With almost 30,000 members in Townsville, Mr Pennisi said QSuper held general advice seminars in the city every year and offered personal advice services from local, qualified financial advisers to members through its QInvest office in Aitkinvale.
“We also provide general advice where our members work – it’s all about making information available where and when it suits them,” he said.
Talking specifically about superannuation, Mr Pennisi said the best approach was to be informed and keep it simple.
“With the complexity of super, people don’t necessarily see it for what it is – saving for your retirement. Given super is generally your biggest asset outside of the family home when it comes time to retire, the amount you save can likely have a huge impact on your lifestyle in retirement.
“Increasingly members tell me that the continual changes to super in recent years have been confusing, and many have disengaged and put it in the too-hard basket.
“But I would encourage people to seek quality financial advice if they are unsure about their position. It is never too late to make a difference to your retirement outcome and the earlier you start the better.”
1. Survey of 4,565 QSuper members carried out by Colmar Brunton on behalf of QSuper.
2. This information is provided by QInvest Limited (ABN 35 063 511 580, AFSL 238274), which is ultimately owned by the QSuper Board (ABN 32 125 059 006 AFSL 489650) as trustee for QSuper (ABN 60 905 115 063), and is a separate legal entity responsible for the financial services it provides. Advice fees may apply. QSuper products are issued by the QSuper Board as trustee for QSuper. This is general information only so please consider the PDS on our website to see if this product is right for you.