One login, one form, one payment – could not be any easier!

If only they accepted businesses with more than 20 employees! Although I would still utilise the service and just set up 20 of the employees. It is still a time saver.
5 stars!

Great to hear from you, I was starting to think I am the only person who is excited (probably an understatement) by super, so it’s nice to know that’s not the case!

I agree with you that we can harness social media to get the message about super ‘out there’ and it’s fantastic to see funds like HESTA and HOSTPLUS have really embraced mediums like Facebook. There are a number of funds on Twitter now too and even YouTube has superannuation content. Just search for ‘superannuation’ and you’ll see what I mean. Of course, I myself am on Twitter (@SuperClog) and whilst I don’t have as many followers as the rappers and pop stars on there do, I’m sure following me is just as riveting.

As you rightly mentioned, our friends over at AIST are also doing their bit with the Facebook page “12%: your future, your call” and compared to how little marketing time/presence super had ten years ago, the industry has really stepped up to the plate. However, members are still disengaged and so getting through is often a pretty hard task…perhaps if members were as excited about super as I am, things would be different!

But, that is not the case. So it is up to us, as an industry to make sure we are ‘talking’ to our engaged members using the approach that best suits them (i.e. we need to be using lots of different tools and channels, including face-to-face) whilst making sure we get the system design right to look after those members who aren’t engaged. Hello Stronger Super…..now that we are on my favourite topic, let’s talk about Tax File Numbers….ok, sorry, I forgot that this entry isn’t about that.

Keep your comments and thoughts coming…that goes to all 4 people reading my blog!

Yours in Super

Hans

How many people have money in their super accounts? How many people want more money? How many people with money in their super accounts would like to have more of it?

We have such a vast capacity in this area to work collectively as an industry to spread the message.

Social Media [twitter/facebook] are the tools of trade that people use every day and are increasingly spend their spare time and energy on. This is the new world media.

The superannuation collective should be spreading the message through these platforms continuously. We need to use these tools and take the message to our people!

Are you aware that there is a facebook page already out there called “12%: your future, your call”? It isn’t very widely known (only 337 likes), yet how many people were just sent their annual statement or sent a welcome pack recently?

Why isn’t the industry drawing member’s attention to the cause? Should we rely on the media to wait until it becomes a story full of scaremongering (think “Pensioner eats can of dog to food to get by” styled stories)?

Maybe there is some legality that prevents funds and associated partners from spruiking the message, but if not, and if we truly believe in it, then we need to take the mantle on and promote it.

So few Super Funds actually have a twitter account, let alone a facebook page, it is a little embarassing that the industry seems to be so far behind. Such brilliant tools that allow you, at the push of a button, to get a key message accross.

As I like to say these days “Tweet it, and they shall come.”

•Is 12% enough, should we just aim higher and be done with it?
I don’t own a crystal ball.

•Lifting the retirement age overseas saw people out with their signs and megaphones, so why aren’t people rioting in the streets to support the SG increase?
There is a whole sociological debate as to why people do or do not riot in the streets, so I’ll leave this one alone.

Those figures do look scary & agree for those of us who are engaged with super, we know that we have to be diligent. But what about the disengaged who don’t realise until late in their working career that their superannuation balances will fund their retirement adequately?

This in the long run will become a social & economic issue and thus affect the public purse so maybe the government can be on the front foot (albeit radical) and constrain how individuals use their super monies during retirement?

Initiatives such as increasing the SG from 9 to 12 %, introducing a low cost simple product (MySuper) will assist individuals super balances however I think changing people’s behaviour towards savings & superannuation is a cultural change management issue. This should involve embedding financial skills in the education system at a young age – just my opinion. We should all be saving for our biggest holiday – retirement!

I am with you Hans. There are terrible gender inequities in the super system and hopefully by the time Ruby starts making super contributions there will be more opportunities to get a fat balance that ensures a comfortable retirement.

Ruby – if you are anything like me, “comfortable” will require you to perhaps make additional contributions on top of the 12 per cent SG that I hope will be in place by the time you have your first job!

So pleased that you find this interesting too! I know that you enjoy our discussions about this and other important superannuation matters at the dinner table and now you are even following my Blog!

I know that you are only 11 years old but it is important to recognise early that because you are born female, you are likely to earn less through your working life, have less superannuation when you retire and yet live longer compared to any boys in your class! This does not make sense at all does it now! So, we have much to do to rectify this and other inequities in our society. Thanks for following my blog and I can’t wait to hear your (and your friends) plans to shape the future!

I love you too!

Dad XXXXXXXX

So if you alter the model slightly and have ATO in the middle – as an example, once a contribution is submitted (either by member or employer) it will go to the ATO for validation regarding caps etc., ATO then sends a member verification message to the fund, if successful passes the contribution message to the fund for validation and processing. Fund sends back relevant message for payment.

Another bonus, the ATO have the relevant info they need – so another efficiency that cut downs the required reporting from the fund.