Don’t judge a superannuation default investment option by its name

Gallery, Gerry T., Gallery, Natalie, & McDougall, Lynn (2010) Don’t judge a superannuation default investment option by its name. Australian Accounting Review, 20(3), pp. 286-295.

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With the massive decline in savings arising from the Global Financial Crisis (GFC), it is timely to review superannuation fund investment and disclosure strategies in the lead-up to the crisis. Accordingly, this study examines differences among superannuation funds’ default investment options in terms of naming and framing over three years from 2005 to 2007, as presented in product disclosure statements (PDSs). The findings indicate that default options are becoming more alike regardless of their name, and consequently, members may face increasing difficulties in distinguishing between balanced and growth-named default options when comparing them across superannuation funds. Comparability is also likely to be constrained by variations in the framing of default options presented in investment option menus in PDSs. These findings highlight the need for standardisation of default option definitions and disclosures to ensure descriptive accuracy, transparency and comparability.

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ID Code: 35780
Item Type: Journal Article
Refereed: Yes
Keywords: Default option, Superannuation, Investment choice
DOI: 10.1111/j.1835-2561.2010.00093.x
ISSN: 1035-6908
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100) > Financial Accounting (150103)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Copyright Owner: Copyright 2010 CPA Australia Ltd
Deposited On: 24 Sep 2010 01:06
Last Modified: 06 Jul 2017 14:42

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