Cluster Project 3: Better Superannuation Outcomes: Information, Options, and Short-term and Long-term Member Behaviour
Principal Researcher: Professor Gordon Clark (Monash University and University of Oxford) and Prof Paul Gerrans, (University of Western Australia)
Research Team: The Monash Funds Management Research Cluster including Dr Huu Duong; Prof Paul Lajbcygier; Dr Carly Moulang; Dr Maria Strydom; Dr John Vaz; Dr Jayasinghe Wickramanayake; in collaboration with Prof Noel Whiteside (University of Warwick),
Project Overview: A key element in the structure and performance of Australia’s superannuation system concerns the nature and scope of member behaviour as regards the choice of savings options and investment vehicles, and their response to changing personal circumstances and financial markets. Many participants in superannuation plans give-over responsibility for making such choices to the sponsoring institution (the employer, the superfund, etc.). Notwithstanding the significance of ‘passive’ participation in the Australian superannuation system, little is known about the behavioural histories of superannuation plan members over the short, medium, and longer terms, or how superannuation plan members react to changing macroeconomic and financial market circumstances. Academic research has found it difficult to situate observed behaviour in the context of members’ longer term behaviour. This cluster project seeks to better understand patterns of active versus passive behaviour, short-term and longer term behaviour, and the responses of members to events as well as advice given by the superannuation fund.