Small industry super funds lead on trust, service, and value for money, according to CoreData’s annual member engagement survey.

CoreData research consultant Alana Devitt told Financial Standard that members’ trust in small industry funds is built through transparency and communication, which bigger funds “don’t do very well.”

Devitt noted that ASIC’s crackdown on larger funds like Cbus, which was sued for allegedly failing to act honestly and fairly in handling death benefit and total and permanent disability insurance claims, and AustralianSuper, for similar issues, clearly illustrate this.