Female Voluntary Contribution Research
Female Voluntary Contribution Research
Methodology
Demographics
Engagement
1 © 2014 Rice Warner
Voluntary Contributions
Advice
Methodology
Qualitative
Quantitative
• Member Survey
• Member data
2 © 2014 Rice Warner
Participants - Quantitative Funds Auscoal
ING Direct
REST
Austsafe
KINETIC
Statewide
Commonwealth Bank Group Superannuation Fund
Media Super
Suncorp
Equipsuper
Mercer
Sunsuper
First State Super
MTAA
Telstra Super
Guild
NGS Super
VicSuper
HESTA
Plum
HOSTPLUS
QSuper
3 © 2014 Rice Warner
Participants - Qualitative
Funds Austsafe CARE HESTA Suncorp Telstra Super
4 © 2014 Rice Warner
Demographics
Age 75 and over 65 to 74 55 to 64 45 to 54 Number of People
35 to 44 25 to 34 15 to 24 Less than 15
0
100
200
300 6
© 2014 Rice Warner
400
500
Marital status Marital status
Widowed 3%
Separated or Divorced 16%
Married/Partnered 61%
7 © 2014 Rice Warner
Single 20%
Working status
Working status I do not Casual work 12% 12%
Part time 25%
Full time 51%
8 © 2014 Rice Warner
Engagement
Age versus population
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0% 15 to 24
25 to 34
35 to 44
45 to 54 Survey
Population
10 © 2014 Rice Warner
55 to 64
65 to 74
75 and over
Account balance
160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 15 to 24
25 to 34
35 to 44 Survey
45 to 54 Population
11 © 2014 Rice Warner
55 to 64
65 to 74
Retirement Income Do you know your retirement income needs? 80 70 60 50 40 30 20
10 0
Yes
No 12
© 2014 Rice Warner
Voluntary Contributions
Voluntary contributions Voluntary Contributions
Yes 30%
No 70%
14 © 2014 Rice Warner
Concessional Contributions - Size
25% 20% 15% 10% 5% 0% 3.5% 3.0% 2.5% Males
Females
2.0% 1.5% 1.0% 0.5% 0.0%
Males
15 © 2014 Rice Warner
Females
Proportion of members contributing – concessional 12%
10%
8%
Female
6%
Male
4%
2%
0% 2003
2004
2005
2006
2007
2008
2009
16 © 2014 Rice Warner
2010
2011
2012
2013
Proportion of members contributing – non-concessional 18%
16%
14%
12%
10%
8%
6%
4%
2%
0% 2003
2004
2005
2006
2007
2008 Female
17 © 2014 Rice Warner
2009 Male
2010
2011
2012
2013
Co-contribution Are you aware of the co-contribution?
No
Yes
0
10
20
30
40
50
60
* Note this question was limited to those eligible for the co-contribution 18 © 2014 Rice Warner
70
80
90
Co-contribution Have you received the co-contribution?
No
Yes
0
10
20
30
40
* Note this question was limited to those eligible for the co-contribution 19 © 2014 Rice Warner
50
60
Female contributions – all types
Proportion of females making an additional contribution
90.0%
80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% < 35%
35% - 60%
Proportion of female members
20 © 2014 Rice Warner
> 60%
Male contributions – all types
Proportion of males making an additional contribution
100.0% 90.0% 80.0% 70.0% 60.0% 50.0%
40.0% 30.0% 20.0% 10.0% 0.0% < 35%
35% - 60% Proportion of male members
21 © 2014 Rice Warner
> 60%
Spouse contributions Proportion of members receiving a spouse contribution 0.25%
0.20%
0.15% Female
Male 0.10%
0.05%
0.00% 2005
2006
2007
2008
2009
2010
22 © 2014 Rice Warner
2011
2012
2013
Barriers Barriers
Other 30%
Affordability 61%
I didn't get around to it 9%
23 © 2014 Rice Warner
Advice
Engaged - really? Campaign Awareness
Sought advice from fund?
80
100
70
80
60 50
60
40 30
40
20
20
10
0
0
Yes
No
Yes
Sought advice from alternative source?
90 80 70 60 50 40 30 20 10 0 Yes © 2014 Rice Warner
25
No
No
DISCLAIMER The information contained in this presentation is provided by Rice Warner Pty Limited, ABN 35 003 186 883, AFSL 239191 (Rice Warner). It is intended as general information and is not personal advice as it does not take into account the particular circumstances of any reader. While due care and attention has been exercised in the preparation of this presentation, no representation or warranty, either express or implied, is given as to the accuracy, completeness or reliability of this information. The information presented is not intended to be a complete statement or summary of the matters referred to in the presentation.
19 March 2014
© 2014 Rice Warner. All rights reserved. Proprietary and Confidential. For Rice Warner and Rice Warner client use only.
Document No: 236651
SYDNEY
MELBOURNE
Level 1 2 Martin Place Sydney NSW 2000 T +61 2 9293 3700 F +61 2 9233 5847
Level 20 303 Collins Street Melbourne VIC 3000 T +61 3 8621 4100 F +61 3 8621 4111
27
ABN 35 003 186 883 AFSL 239 191
www.ricewarner.com
Methodology
Demographics
Engagement
1 © 2014 Rice Warner
Voluntary Contributions
Advice
Methodology
Qualitative
Quantitative
• Member Survey
• Member data
2 © 2014 Rice Warner
Participants - Quantitative Funds Auscoal
ING Direct
REST
Austsafe
KINETIC
Statewide
Commonwealth Bank Group Superannuation Fund
Media Super
Suncorp
Equipsuper
Mercer
Sunsuper
First State Super
MTAA
Telstra Super
Guild
NGS Super
VicSuper
HESTA
Plum
HOSTPLUS
QSuper
3 © 2014 Rice Warner
Participants - Qualitative
Funds Austsafe CARE HESTA Suncorp Telstra Super
4 © 2014 Rice Warner
Demographics
Age 75 and over 65 to 74 55 to 64 45 to 54 Number of People
35 to 44 25 to 34 15 to 24 Less than 15
0
100
200
300 6
© 2014 Rice Warner
400
500
Marital status Marital status
Widowed 3%
Separated or Divorced 16%
Married/Partnered 61%
7 © 2014 Rice Warner
Single 20%
Working status
Working status I do not Casual work 12% 12%
Part time 25%
Full time 51%
8 © 2014 Rice Warner
Engagement
Age versus population
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0% 15 to 24
25 to 34
35 to 44
45 to 54 Survey
Population
10 © 2014 Rice Warner
55 to 64
65 to 74
75 and over
Account balance
160,000 140,000 120,000 100,000 80,000 60,000 40,000 20,000 15 to 24
25 to 34
35 to 44 Survey
45 to 54 Population
11 © 2014 Rice Warner
55 to 64
65 to 74
Retirement Income Do you know your retirement income needs? 80 70 60 50 40 30 20
10 0
Yes
No 12
© 2014 Rice Warner
Voluntary Contributions
Voluntary contributions Voluntary Contributions
Yes 30%
No 70%
14 © 2014 Rice Warner
Concessional Contributions - Size
25% 20% 15% 10% 5% 0% 3.5% 3.0% 2.5% Males
Females
2.0% 1.5% 1.0% 0.5% 0.0%
Males
15 © 2014 Rice Warner
Females
Proportion of members contributing – concessional 12%
10%
8%
Female
6%
Male
4%
2%
0% 2003
2004
2005
2006
2007
2008
2009
16 © 2014 Rice Warner
2010
2011
2012
2013
Proportion of members contributing – non-concessional 18%
16%
14%
12%
10%
8%
6%
4%
2%
0% 2003
2004
2005
2006
2007
2008 Female
17 © 2014 Rice Warner
2009 Male
2010
2011
2012
2013
Co-contribution Are you aware of the co-contribution?
No
Yes
0
10
20
30
40
50
60
* Note this question was limited to those eligible for the co-contribution 18 © 2014 Rice Warner
70
80
90
Co-contribution Have you received the co-contribution?
No
Yes
0
10
20
30
40
* Note this question was limited to those eligible for the co-contribution 19 © 2014 Rice Warner
50
60
Female contributions – all types
Proportion of females making an additional contribution
90.0%
80.0% 70.0% 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% 0.0% < 35%
35% - 60%
Proportion of female members
20 © 2014 Rice Warner
> 60%
Male contributions – all types
Proportion of males making an additional contribution
100.0% 90.0% 80.0% 70.0% 60.0% 50.0%
40.0% 30.0% 20.0% 10.0% 0.0% < 35%
35% - 60% Proportion of male members
21 © 2014 Rice Warner
> 60%
Spouse contributions Proportion of members receiving a spouse contribution 0.25%
0.20%
0.15% Female
Male 0.10%
0.05%
0.00% 2005
2006
2007
2008
2009
2010
22 © 2014 Rice Warner
2011
2012
2013
Barriers Barriers
Other 30%
Affordability 61%
I didn't get around to it 9%
23 © 2014 Rice Warner
Advice
Engaged - really? Campaign Awareness
Sought advice from fund?
80
100
70
80
60 50
60
40 30
40
20
20
10
0
0
Yes
No
Yes
Sought advice from alternative source?
90 80 70 60 50 40 30 20 10 0 Yes © 2014 Rice Warner
25
No
No
DISCLAIMER The information contained in this presentation is provided by Rice Warner Pty Limited, ABN 35 003 186 883, AFSL 239191 (Rice Warner). It is intended as general information and is not personal advice as it does not take into account the particular circumstances of any reader. While due care and attention has been exercised in the preparation of this presentation, no representation or warranty, either express or implied, is given as to the accuracy, completeness or reliability of this information. The information presented is not intended to be a complete statement or summary of the matters referred to in the presentation.
19 March 2014
© 2014 Rice Warner. All rights reserved. Proprietary and Confidential. For Rice Warner and Rice Warner client use only.
Document No: 236651
SYDNEY
MELBOURNE
Level 1 2 Martin Place Sydney NSW 2000 T +61 2 9293 3700 F +61 2 9233 5847
Level 20 303 Collins Street Melbourne VIC 3000 T +61 3 8621 4100 F +61 3 8621 4111
27
ABN 35 003 186 883 AFSL 239 191
www.ricewarner.com
