UniSuper bolsters financial literacy focus

In a statement Wednesday, UniSuper announced it recently rolled out MoneySavvy and Money Confident Kids to target the specific needs and interests of women, children and parents.

The Money Confident Kids program aims to teach children, aged eight to 14, about money through activities and games, while parents can find tips on how to instil good money behaviours from an early age, UniSuper said.

According to research from the US, digital games increased the financial knowledge of children by 50 per cent, the super fund said.

MoneySavvy is a series of interactive content designed for women by women to increase their money management skills, UniSuper said.

“The online resource covers everything from everyday budgeting to retirement planning, to help address and overcome the financial challenges women face over their lifetime,” the statement said.

The two new programs are a response to the financial literacy knowledge gap highlighted in member surveys, the firm said.

UniSuper chief executive Kevin O’Sullivan said the super fund has a responsibility to educate its members on the increasingly complex financial environment.

Mr O’Sullivan said he expects to see an increase in member demand for financial education tools and resources.