SMC launches online campaign to improve super engagement

The Super Members Council (SMC) has unveiled a new social media campaign designed to boost younger Australians’ engagement with their superannuation, ahead of the Superannuation Guarantee’s scheduled increase on 1 July.

The 0.5 per cent increase to come into effect at the beginning of the next financial year will see working Australians receive 12 per cent in legislated superannuation comes at a time when research shows engagement with superannuation – particularly with millennials – remains concerningly low.

According to the Australian Securities and Investments Commission (ASIC), 48% of millennials say they are not very or not at all knowledgeable about how to maximise their super and 31% say they only check their super’s performance less than once a year or not at all.

The video campaign forms part of a wider initiative implemented by the SMC titled ‘How Super Works’, which targets younger Australians and seeks to grow their knowledge and awareness of superannuation before they come close to retirement age. The SMC has also developed new superannuation content made available via its website.

“This increase to people’s super is a powerful step forward for Australians’ financial futures. But too many people don’t yet know it’s happening,” SMC chief executive, Misha Schubert, said.

“That’s why we’re releasing this video—to raise awareness and help Australians make the most of their super. We know that when people better understand what super is and how it will support their retirement, they’re more likely to engage—and that engagement can make a real difference.

“When Australians understand how super works, have an expectation it will be critical to their wellbeing in retirement, and take a closer interest in their super, they are much more likely to take actions like comparing fees, checking their investment options, making additional contributions, and checking for missing super contributions.

“July’s savings boost is a great reminder that your future is worth investing in. A few small steps today can mean a much more secure tomorrow.”