Experiences of current and former members of self-managed superannuation funds

Susan Thorp, Ron Bird, F Douglas Foster, Jack Gray, Adrian Raftery and Danny Yeung ()
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F Douglas Foster: Discipline of Finance, The University of Sydney Business School, The University of Sydney, Australia
Jack Gray: Finance Discipline Group, UTS Business School, University of Technology Sydney, Australia
Adrian Raftery: Deakin Business School, Deakin University, Melbourne, Australia

Australian Journal of Management, 2021, vol. 46, issue 2, 304-325

Abstract: We surveyed 854 current and 147 former members of self-managed superannuation funds (SMSFs) in 2016. The results of our survey document their aspirations, operational practices and experiences. Both current and former members expressed high general interest in superannuation, but ‘detractors’ of SMSFs outnumbered ‘promoters’. SMSF members said they enjoy ‘control’ of investment, but a majority delegated tasks to financial professionals. Three times as many members rated the performance of their fund as above the SMSF average as below, although most did not measure the performance of their fund adequately. The probability of closing a SMSF is significantly higher if members use net returns, rather than other indicators such as account balance, to judge performance. JEL Classification: H55, H75, J32

Keywords: Financial advisors; financial literacy; household finance; pensions; self-managed superannuation funds (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:ausman:v:46:y:2021:i:2:p:304-325

DOI: 10.1177/0312896220936338

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