AUSTRALIA - Superannuation fund balances have been bruised by the financial crisis, but are predicted by the government to double in value over the next decade.
Sherry said: "As many have pointed out, superannuation is a long-term investment. Australians typically spend about 35 to 40 years in the workforce before they retire and over 20 years in retirement.
"During that period they will experience a number of investment cycles and there will be time for the markets to recover - history clearly tells us this."
He claimed the last 35 years had delivered 'excellent' real returns of close to 5% over and above inflation, and said this would continue despite the average -6.4 return in 2007/08.
Sherry added: "What people must consider is this simple fact: a dollar invested in super ten years ago was worth A$2.07 (US$1.3) at 30 June this year - that is a doubling in just a decade." He said he expected that trend to continue.
He added before individuals, in their response to current movements in their super fund balance, considered switching to cash or other conservative investment options, they should seek the advice of their fund or an adviser.
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