April 21, 2026

Super Advertising Bans to Employees, Advisor Education Reforms, and the Unintended Consequences of the Performance Test

Show Notes

#24. On this episode of That Super Show, co-hosts Neil Benson and Sarah Penn break down the Treasury’s proposed ban on super fund advertising during onboarding, the shakeup in advisor education requirements, and dig into why APRA and the ATO are getting twitchy about payday super implementation (spoiler: small business, we see you…). Plus, are performance tests quietly killing investment innovation in Australia?

RESOURCES

Superannuation advertising ban consultation launches - employers can only display employee's stapled fund, employer's default fund, or a MySuper product from another fund. Bill has passed both houses, now Treasury is consulting on the regulations to support it.
Education reform for financial advisers - Consult hub - Treasury has launched consultation paper regarding new class of financial advisors as part of DBFO T2.
Payday Super Readiness | APRA - ATO and APRA have published a letter to RSEs to brace themselves and buckle up! APRA has concerns about some funds' readiness for Payday Super.
‘Parliamentary Friends’ launch sharpens focus on super - Super Review
Superannuation performance test is stuck in red tape and could be creating a stagnant economy - performance test doesn't encourage outperformance, it discourages underperformance. As a result, money flows into indices, not into innovation.

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Sarah Penn, Chief Executive at Mayflower Consulting

Neil Benson, Chief Product Officer at ChandlerCX

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