New data from Roy Morgan’s Superannuation Satisfaction Report shows industry fund Tasplan has the highest customer satisfaction rating (73.9%) of any super fund. As a group, industry funds (65.1%) outperformed retail funds (59.5%) in terms of satisfaction, and the gap has widened compared to the same period a year ago.
The Superannuation Satisfaction Report shows Tasplan on 73.9%, ahead of Unisuper (73.7%), Cbus (73.3%), First State Super (70.3%), HESTA (70.2%), CARE Super (67.6%), AustralianSuper (67.3%), Colonial First State (65.1%), Mercer (64.7%) and HOSTPLUS (63.2%).
The report’s findings have been obtained from the Roy Morgan Single Source survey, compiled by in-depth face-to-face interviews with over 50,000 Australians each year in their homes.
Roy Morgan CEO Michele Levine says that Tasplan’s strong ratings growth compared with twelve months ago secured it the Industry Superannuation Fund of the Month Award.
“Of all the leading superannuation funds, Tasplan’s 8.4% increase from a year ago was the highest, and has placed it as the number one fund in terms of satisfied customers. Tasplan has now won four Industry Superannuation Fund of the Month Awards in 2019,” Ms. Levine said.
“Consumers are continuing to be more satisfied with industry funds, and this is reflected in the fact there is a total of eight industry funds in the overall top ten.”
Leading superannuation fund customer satisfaction ratings
Source: Roy Morgan Single Source Australia, June 2019 – November 2019, n = 11,294 Base: Australians 14+ with work based or personal superannuation. Note. Figures in brackets indicate increase from June 2018 – November 2018 sample.
Satisfaction with financial performance of funds
Source: Roy Morgan Single Source Australia, June 2018 – November 2018, n = 10,753. June 2019 – November 2019, n = 11,294 Base: Australians 14+ with work based or personal superannuation
Tasplan customers are often doing it tough, but find pleasure in food
The typical customer of Tasmanian-based Tasplan is aged 35-64 and likely to be part of the Fair Go Roy Morgan Helix Community.
The Fair Go community are lower income Australians, who tend to struggle to make ends meet and are looking for a better deal in life, while making the best of things. However they can also be pessimistic and cynical, feeling they get a raw deal out of life.
Within the Fair Go Community, Tasplan customers are likely belong to the Quiet Home Life Helix Persona. More than half of this group are aged 50+ and live a modest lifestyle in and around large regional cities and coastal towns.
Nearly three-quarters enjoy food from all over the world and they are less likely than the average Australian to say they don’t have time for cooking, and less likely to purchase frozen or chilled meals –more than half report being regularly complimented on the dishes they prepare.
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Margin of Error
The margin of error to be allowed for in any estimate depends mainly on the number of interviews on which it is based. Margin of error gives indications of the likely range within which estimates would be 95% likely to fall, expressed as the number of percentage points above or below the actual estimate. Allowance for design effects (such as stratification and weighting) should be made as appropriate.
|Sample Size||Percentage Estimate|
|40% – 60%||25% or 75%||10% or 90%||5% or 95%|