Investor confidence eases, worries over super access

Article Category: Demographics

By AAP, 22 March 2010

JUST over half of Australians are worried that the Federal Government may change laws surrounding access to their superannuation funds, a new survey has found.

Almost a third said they would decrease their super contributions if they were told they could not access their super until they reached the age of 67, the quarterly investor sentiment survey conducted by the Investment and Financial Services Association (IFSA) and CoreData shows.

Under Government reforms, the qualifying age for the age pension is due to gradually increase from 65 to 67 by 2023 and concerns are that super access may follow suit.

Overall, the survey of 743 respondents showed that investor confidence fell in the first three months of 2010 after rising for three consecutive quarters last year.