AUSTRALIA - Over half of superannuation investors are worried the government could change the rules regarding access to their funds, according to the Investment and Financial Services Association (IFSA).
It said that of the 54.2% of concerned investors, more than half of these were "very worried."
This concern follows the recent release of the Cooper review, which raised questions concerning the governance of the country's superannuation funds, asking for feedback on the role of government in superannuation investments (Global Pensions: August 27 2009).
IFSA added that over the next 12 months, the association said 77.2% of investors plan on keeping their contributions to superannuation the same, while 14.1% plan on increasing their contributions.
The results come from research in relation to the IFSA/CoreData Investor Sentiment index, which is in positive territory for the second consecutive quarter.
Despite the concern surrounding superannuation, the index highlights optimism about the investment markets, an increased feeling of financial security, and improving levels of satisfaction that people have with their own investments.
IFSA chief executive officer John Brogden said: "The optimistic outlook for investment markets has been most obvious for Australian shares - with two thirds of respondents saying that they expect the ASX to perform better over the next quarter - the highest number since the survey began."
It said the industry has experienced a 27% increase in flows to Australian equity-based managed investment schemes since the beginning of the year, with a corresponding 60% fall in outflows.
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