The state of play
Industry Super Australia (ISA) wanted to improve member retention for the super funds that make up its affiliate group. Many funds were losing members who changed jobs and switched to their new employer’s ‘default’ fund. For members to stay with a fund, they had to complete a ‘Choice of fund’ form and give it to their new employer. This is a PDF form that had to be printed, filled out manually and hand delivered, which was proving to be an obstacle.
ISA wanted to make it as easy as possible for members to fill out the form and deliver it to their new employer, with the aim of increasing the likelihood that members would choose to stay with their industry fund, rather than opt-in to the new employer’s default fund. Importantly, ISA understood that super is not front-of-mind for most people, and that it’s important to remove barriers to act.
SGY designed and built a ‘Choice of fund’ tool that enables users to complete and deliver the form online, without needing to use a printer, and complete the details by hand. The tool is simple to use and is prefilled with the fund’s details to make things even easier. Once completed, the user is given the option to download the form, email it to themselves to then forward on, or both.
Since implementing the new tool, ISA member funds have noticed much higher completion rates of the form, and improved member retention.