A lot of people also seem to get sucked in my the media headlines saying "Super takes a beating this year", "What your super will earn this Year", "Good month for super in January" etc etc. It just feeds the thinking that it is a separate asset that doesn't go anywhere much or just gets sucked out by fees. They often don't understand that what their fund returns depends on how they have chosen their investments, which may not be the same as the 'average' fund. It's also a choice not to make a choice away from the 'default' option.
The governments policy direction seems to be that as most Australians don't understand superannuation, then rather than helping them become educated, they instead want to provide a much simpler and 'lower cost' solution to the masses. Remember, lower cost doesn't mean better returns (that's the falacy with the 'compare the pair' advertising that Industry Fund members are unwittingly paying for...oh and a heap of Corporate Boxes at the footy).
