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SMSF trustees poised to kick retirement goals

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Self-managed superannuation (SMSF) trustees, who are more likely to be receiving financial advice than non-trustees, are more confident they will meet their retirement needs compared to non-trustees, according to research.

A report released by nab trade and the SMSF Association showed almost one in seven SMSF trustees (69.1 per cent) were confident they would meet their retirement income goal, up from 66.7 percent in 2013.

On the other hand, the ‘Intimate with Self-Managed Superannuation Report’ said only 35.2 per cent of non-trustees were confident, up from 34.3 percent in 2013.

“A possible factor behind the retirement confidence gap is that trustees are considerably more likely than non-trustees to be receiving financial advice (52.8 percent versus 29.5 percent), the report said.

NAB Head of SMSF Solutions, Gemma Dale, said SMSF trustees were more active in managing their savings.

“As we’ve seen over the last decade, SMSFs are not a flash in the pan. SMSF trustees are motivated to take control of their retirement savings, and are making well-informed investment choices to ensure they achieve the income they want in retirement,” Dale said.

SMSF Association chief executive Andrea Slattery noted that risk seemed to be a priority for trustees who were well-versed with their SMSF investment strategy.

The most common factors deliberated when designing the strategy were the overall risk of the portfolio (65.8 per cent), diversification of the fund’s investments (63.4 percent), and the risk of the fund’s investments (61.6 percent).


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