MEMBER SATISFACTION — SMALLER FUNDS RATE HIGHER
Survey results from a study involving 4,288 Australians over 45 years old by research house CoreData showed higher levels of customer satisfaction, trust and responses to a range of service-related metrics from members of smaller superannuation funds. The results published in the Australian Financial Review on Monday 17 May defined smaller funds as having less than $20 billion in assets and found 92% of smaller fund members trust the fund with their financial future compared with 80% of big fund members, and further, that 90% of small fund members agreed their fund had a culture of service compared with 82.5% of big fund members.
legalsuper conducts its ongoing member satisfaction measurement through our own contact centre with the most recent results for our field team, known as Customer Service Managers, showing a 93% satisfaction level from members.
Further, on the specific subject of the Government’s Early Release Scheme (ERS) we received a score of 95% for member engagement.
Importantly, these measurements take in the COVID-19 impacted period when the majority of members were working from home and direct contact was provided through a range of alternatives to the traditional face-to-face method.