Measuring financial literacy of superannuation fund members: Preliminary results

Palm, Chrisann T. (2015) Measuring financial literacy of superannuation fund members: Preliminary results. In AFAANZ Conference, 5-8 July 2015, Hobart, Australia.

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Superannuation is typically the second most valuable asset for most working Australians. Despite such importance, many fund members appear to be disengaged with their ‘forced savings’. The literature shows that financial literacy is one of the key requirements for making informed financial choice. Yet numerous financial literacy studies indicate that financial illiteracy is widespread across different countries and settings. This study assesses the financial literacy of superannuation participants through a survey of 594 fund members. The results show that while most respondents displayed high levels of self-rated and general financial literacy, fewer scored as well in relation to more advanced literacy regarding superannuation investment options.

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ID Code: 86713
Item Type: Conference Paper
Refereed: Yes
Additional URLs:
Keywords: Financial literacy, superannuation, investment choice
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Copyright Owner: Copyright 2015 [please consult the author]
Deposited On: 21 Aug 2015 01:54
Last Modified: 24 Aug 2015 11:38

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