In a statement, the company said Suncorp Brighter Super will offer streamlined features and benefits that are intended to help drive greater engagement with super.
Suncorp executive manager of wealth, Cathy Duncan, said: “Through our transformation program and overall simplification of our business, we’ve reinvented our products and focused on delivering simplicity and value to meet the needs of our advisers and customers.”
“Suncorp Brighter Super is designed to be flexible, fuss free and cater for all the different stages of life,” she said.
The new offering comes as more than half of Australians said that while they agree superannuation is a key source for retirement funding, 42 per cent feel frustrated because they do not understand super.
Research also found that 44 per cent of Australians would be more interested in their super account if it operated like a bank account.
“We took on board that customers want a more integrated experience with managing their wealth so we are building functionality that will enable customers to be able to view their super account balances alongside their Suncorp bank accounts either via the website or on their mobile through the Suncorp Bank app,” Ms Duncan said.
“We’ll be bringing this to market later this year.
“Ensuring customers are well equipped with a product offering that they can understand and engage with is key in helping customers build an adequate retirement and greater financial resilience for the future,” Ms Duncan said.
