Superannuation Knowledge, Behaviour and Attitudes in Young Adults in Australia

129 Pages Posted: 8 Oct 2014

See all articles by Paul Ali

Paul Ali

University of Melbourne - Law School

Malcolm Edward Anderson

University of Melbourne - Faculty of Education; Australian Institute of Archaeology

Martin Clark

University of Melbourne, Law School, Students

Ian Ramsay

Melbourne Law School - University of Melbourne

Chander Shekhar

University of Melbourne; Financial Research Network (FIRN)

Date Written: September 23, 2014

Abstract

This report presents the results of a study examining superannuation knowledge, behaviour and attitudes in 994 young adult superannuation fund members (25-34 years old) in Australia. Respondents completed a 75 question online survey instrument which included questions on demographics and superannuation knowledge, behaviour and attitudes. It is the first large-scale study to focus exclusively on superannuation and the young adult population in Australia. The report concludes there are serious deficiencies in knowledge, behaviour and attitudes among young adults. Knowledge of basic facts about superannuation is poor. Young adults are unengaged by and uninterested in superannuation or retirement planning. Attitudes can be described as worried and skeptical.

Keywords: superannuation, retirement planning, financial literacy, young adults in Australia

Suggested Citation

Ali, Paul and Anderson, Malcolm Edward and Clark, Martin and Ramsay, Ian and Shekhar, Chander, Superannuation Knowledge, Behaviour and Attitudes in Young Adults in Australia (September 23, 2014). CIFR Paper No. RP002/2014. Available at SSRN: https://ssrn.com/abstract=2506374 or http://dx.doi.org/10.2139/ssrn.2506374

Paul Ali

University of Melbourne - Law School ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia
+61 3 8344 1088 (Phone)
+61 3 8344 5285 (Fax)

HOME PAGE: http://www.law.unimelb.edu.au

Malcolm Edward Anderson

University of Melbourne - Faculty of Education ( email )

Alice Hoy Building
Victoria 3010
Australia

Australian Institute of Archaeology ( email )

Melbourne, Victoria 3010
Australia

Martin Clark

University of Melbourne, Law School, Students ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria
Australia

Ian Ramsay (Contact Author)

Melbourne Law School - University of Melbourne ( email )

University Square
185 Pelham Street, Carlton
Victoria, Victoria 3010
Australia
+61 3 8344 5332 (Phone)

HOME PAGE: http://law.unimelb.edu.au/about/staff/ian-ramsay

Chander Shekhar

University of Melbourne ( email )

185 Pelham Street
Carlton, Victoria 3053
Australia

Financial Research Network (FIRN)

C/- University of Queensland Business School
St Lucia, 4071 Brisbane
Queensland
Australia

HOME PAGE: http://www.firn.org.au

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