Young Australians – do they care about super?

Young Australians often get a bad rap for their ability to handle money.
A partner at KPMG last year suggested if young Australians spent less on smashed avo and more on savings, then housing affordability would be less of an issue!

Recently a Club Plus Super survey of 18-36 year old’s intended to get a more comprehensive understanding of young Australians feelings toward one of their biggest assets – being Superannuation.

21 questions were asked about superannuation, retirement and spending. The results?? Perhaps mixed, although based on the hard evidence, it seems they do care about super, but don’t typically make extra contributions, contact their fund, or even check their super statements.

Why?

Having a slightly closer look might be the answer – 79.5% advised that they were not taught about super at school – and almost 87% said that super should be taught at school.
It’s quite worrying just how many young people enter the workforce with absolutely zero knowledge of superannuation.

By July 2025 – 12% of salaries will be paid to superannuation funds. That so much money will be paid into an asset that young Australians have very little knowledge of is concerning.
Thankfully financial literacy has now become a part of many Australians school curriculums in recent years, and ASIC has begun its MoneySmart teaching program throughout primary and secondary schools.

But with so many conflicting reports and super funds – what are the important things I should be looking at when I get my most recent super statement??

We’ll cover the most important things to review in our next blog.