Fund tells employers to expect low returns

NAMBAWAN Super Ltd employers have been asked to prepare for lower than usual returns for their super savings as the Covid-19 impacts investment performance.
Chief executive Paul Sayer told a national virtual employer conference that while the Covid-19 would impact returns, it was a long-term investment and there would be ups and downs from year to year.
“When markets are low, it’s often a good time to invest to get the benefit of market rebounds,” he said.
“So save more in voluntary contributions. This year could deliver high returns short-term when the market stabilises and increases.”
Sayer said the superfund was planning a member housing strategy to allow members to retire with money and a house.
“We are working on innovative approaches that will help members get into the housing market,” he said.
“Do that in super, with a voluntary contribution or do it outside of super with Nambawan Savings and Loans society.
“But start now and put a little extra away to help buy or build a home.”
Sayer stressed the importance of employers to the fund’s focus on improving member data quality and new technology being rolled out.