AUSTRALIA - Almost half of Australians believe that superannuation is too complicated to understand properly, according to a report from the Australia Institute.
Around a quarter of survey respondents (23%) said they were not confident in their long-term financial future; and women, young people, people on lower incomes and people with less formal education were less likely to be confident in their financial future.
Institute research fellow Josh Fear, who authored the report, said: "In the realm of personal finances, people are often presented with choices that they would prefer not to make, or would prefer someone else to make on their behalf."
The report recommended that governments provide consumers with simple, independent information to compare superannuation and investment products; and make financial advice more widely available to people who do not wish to use a commercial financial adviser.
It also said governments should invest in basic literacy and numeracy; and focus on the needs of groups who tend to struggle with financial decisions.
The PPF 7800 deficit was slashed in half last month as gilt yields rose. Victoria Ticha asks if this is the start of a longer trend
Frank Field is to warn Sir Philip Green not to sell his Arcadia business without ensuring defined benefit (DB) pensions are adequately protected, PP can confirm.
Some 79% of people would like to see stricter rules and checks to ensure pension pots are secure, according to a survey by the Pensions and Lifetime Savings Association (PLSA).
An analysis of IGC annual reports finds some lacking in information on value for money, costs and charges, and investment performance. James Phillips explores the findings