The paradox of choice: Unravelling complex superannuation decisions

Funding: 2010: $124,000
2011: $153,000
2012: $168,000
2013: $153,000
2014: $102,000

Project Member(s): Eckert, C.

Funding or Partner Organisation: Australian Research Council (ARC Discovery Projects)

Start year: 2010

Summary: Australia has been a world-leader in retirement savings policy, but there remains a pervasive lack of understanding about how best to communicate complex financial information to decision-makers, along with a push by government for clearer disclosure and greater financial literacy. This project will inform regulators and the superannuation industry on how choices are made and how to present clearer, better-designed information to be understood by ordinary participants, thus encouraging active, well-informed participation rather than passive 'default' decisions. More efficient investment and benefit choices will improve the economic welfare of retirees, reduce the burden on the working-age population and improve fiscal sustainability.

FOR Codes: Superannuation and Insurance Services, Applied Economics

Acknowledgement of Country

UTS acknowledges the Gadigal people of the Eora Nation, the Boorooberongal people of the Dharug Nation, the Bidiagal people and the Gamaygal people, upon whose ancestral lands our university stands. We would also like to pay respect to the Elders both past and present, acknowledging them as the traditional custodians of knowledge for these lands.