Framework for Assessing Financial Literacy and Superannuation Investment Choice Decisions

Gallery, Natalie, Newton, Cameron, Palm, Chrisann, Australasian Accounting Business & Finance Journal

Abstract

There is a worldwide trend towards rapidly growing defined contribution pension funds in terms of assets and membership, and the choices available to individuals. This has shifted the decisionmaking responsibility to fund members for managing the investment of their retirement savings. This change has given rise to a phenomenon where most superannuation fund members are responsible for either actively choosing or passively relying on their funds' default investment options. Prior research identifies that deficiencies in financial literacy is one of the causes of inertia in financial decision-making and findings from international and Australian studies show that financial …

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Publication information: Article title: Framework for Assessing Financial Literacy and Superannuation Investment Choice Decisions. Contributors: Gallery, Natalie - Author, Newton, Cameron - Author, Palm, Chrisann - Author. Journal title: Australasian Accounting Business & Finance Journal. Volume: 5. Issue: 2 Publication date: June 1, 2011. Page number: 3+. © University of Wollongong Dec 2008. Provided by ProQuest LLC. All Rights Reserved.

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