Individuals may place more emphasis on voluntary savings strategies outside of super over the coming 12 months, according to ING Australia head of technical services Graeme Colley.
The reason people might resort to savings plans outside of super is a lack of confidence in super due to all the changes being made to the sector at this time.
"People are seeing regulatory risk. After this year's budget, and I thought it might have gone away, people are saying 'the government is still mucking around with superannuation and I've still got no confidence in it,'" Colley said.
"They're asking 'why shouldn't I go into negative gearing because I know I feel safe that the government is not going to mess around with that,'" he said.
"You mention super and a number of people will say 'I don't trust it like I used to.'"
Colley also said people potentially should not be expecting the reduced contributions caps handed down in the 2009 Federal Budget to be raised to the previous higher limits to make super more attractive once more.
"When you have a look at some of the international papers that have been presented ... it would appear from the overseas models it will be voluntary superannuation contributions that will be the way of the future, and higher levels of contributions we have experienced in Australia with its tax deductibility will probably not return in any way," he said.
To counterbalance the negative sentiment towards superannuation some positive feeling may be generated from the recovery in markets experienced in the back half of 2009 that may continue into 2010, Colley said.
