Your age shouldn’t be a barrier to better super. At TOMORROW Super, we believe accessing innovative, self-managed superannuation shouldn’t just be for people with years of experience under their belt. That’s why we’re in the process of building Australia’s first dedicated, direct-to-consumer managed account—to help more Aussies care about their super.
With approximately 900,000 super accounts on the move each year, it’s clear Australians just aren’t satisfied with traditional super funds. People are looking for better alternatives to the conventional options that currently saturate the market. Savvy Australians asked for a superannuation product that values transparency over traditional, and we listened.
In 2020, TOMORROW Super will launch something special. Something that values greater transparency, more choice and ease of management for every individual—a step that we believe will lead to a big transition in superannuation engagement.
Australia currently holds the third largest pension market in the world, with mandated contributions set to rise from 9.5% to 12% by 2025. With $2.7 trillion in funds under management predicted to grow to $9.5 trillion in the next 15 years, it’s unsurprising that most existing super funds have inefficient structures that are not keeping up with the accelerated pace of growth.
“Wealth management, and by extension superannuation, is undergoing generational change. Traditional funds have been grappling with the fall out from the Banking Royal Commission, antiquated pricing models and legacy systems,” says Wes Hall, CEO and Co-founder of Tomorrow Super.
“While industry funds have benefited from the retail fund struggle, the former’s product, pricing and service proposition have not successfully transitioned to the digital age. Therefore, the opportunity for disruption has never been stronger,” Hall continued.
“TOMORROW Super is partnering with proven market-leading providers, which means we have absolute confidence in our ability to execute this product. We believe we can meet a genuine market need, and become Australia’s most progressive superannuation fund.”