Media Release Decoded

Standard

The following is an article I was require to write as a test. I was provided with a media release from Mercer Super Trust and had an hour to produce an article that focussed on the most newsworthy topic. I was restricted to the information that was provided in the media release (no googling Mercer). I have included the media release at the end.

The Key To An Enriched Retirement

Enough super to support your retirement?
Photo: HB Financial Services

Benjamin Hansen – @ben_hansen

Retirees will see themselves outliving their retirement funds unless super trusts educate their members on ways to ensure their savings will be enough to support their retirement.

Mercer Super Trust leader, Heather Dawson said that increasing the Federal Government’s Superannuation Guarantee was one way to tackle the issue of retirees outliving their superfunds. “However, good superannuation providers also need to ensure their members know now how much they need to boost their savings.” she said.

A survey conducted by Mercer, also indicated that one in five Australians did not know where their funds were invested, with the same percentage unsure of the tax benefits of having a superfund.

Indicating lack of knowledge as a reason for unpreparedness, Ms. Dawson said that 27 percent of members with low-level knowledge on superfunds were prepared for retirement, compared to 71 percent of members with high-level knowledge of super.

Ms. Dawson believed that retirement funds should have standard investment options that would ensure the fund lasted the member’s entire post-retirement life, rather than a portion of retirement.

Also stating that superfunds needed to educate their members on the benefits of investing and what lack of investment could mean later in life.

“Super funds need to provide members with forecasts of their income in retirement including the impact of different investment strategies, changes in income and contribution patterns and stock market movements.” Ms. Dawson said.

The Mercer Super Trust leader later said that she understood superfunds could not educate all members, “so there is a responsibility to ensure the range of investment options and products available include automatic or default settings that protect members throughout their lives.”

Mercer media release:
Download

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