Industry SuperFunds today launched a public awareness campaign that reinforces to their five million members what it means to be with a fund that is run only to benefit them.
The new campaign – titled ‘In Good Hands’ – follows recent new research published by the McKell Institute that uses historical differences in crediting rates from 1987-2013 to conclude that starting from the same point, an Australian could have to contribute to their super for a further eight years had they been a member of an average retail super fund (typically bank-owned).
Industry Super Australia (ISA) Chief Executive David Whiteley welcomed the launch of the campaign, which will be integrated across television, print, digital and outdoor from today.
“The advertising campaign seeks to raise the awareness of five million Industry SuperFund members that unlike bank-owned super funds, Industry SuperFunds do not pay sales incentives to financial advisers or other bank staff and are run only to benefit members.
“Despite financial planning scandals at two prominent banks, the banks have successfully lobbied the Government to water down consumer protections in financial advice, including the requirement for financial advisers to act in their client’s best interests and to bring back a range of sales incentives.
“Our members can be confident that the funds which carry the Industry SuperFund “in good hands” symbol do not pay sales incentives to financial advisers or other staff and are run only to benefit members”, Mr. Whiteley said.
The ‘In Good Hands’ television commercial can be viewed below:
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