New Study Reveals Millennials Are Disengaged with Superannuation

A recent survey by ASIC’s Moneysmart has found that many millennials, who make up 21.5% of Australia’s population, are disengaged with their superannuation, raising concerns about the financial security of the next generation. The findings suggest that nearly half of millennials are unsure how to maximise their super, while a significant portion barely check their account performance at all.

Knowledge Gaps and Infrequent Engagement Highlight the Issue

The Moneysmart survey uncovered several key trends that point to widespread disengagement among millennials:

• 48% said they were “not very” or “not at all knowledgeable” about how to maximise their super.
• 31% admitted to checking their super less than once a year or not at all.

This lack of engagement has raised concerns within the financial sector, given the importance of compound interest and long-term growth for securing a comfortable retirement.

Millennials Could Miss Out on Long-Term Gains

Experts warn that younger Australians are in the best position to benefit from early engagement with their super. Even small improvements in fees or performance can significantly impact retirement outcomes.

The Supavest Solution

For millennials looking to gain a better understanding of their superannuation, get in touch with the team at Supavest. 

Our team can educate you on the ins and outs of SMSF property investment in brand new house and land builds, as well as fractional property investment with TIC Property. 

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