Superannuation’s Challenges Exposed at ASFA Conference 2025
#11. We’re excited to bring you the highlights from the cloakroom of the expo hall at this year’s ASFA Conference on the Gold Coast. Only the most glamourous locations for your intrepid hosts, dear listener!
Neil and Sarah unpack what’s happening in superannuation, share feedback from listeners, preview ASFA Con 2025, and tackle some of the trickiest questions facing funds and members today.
🎤 ASFA Conference 2025 – What’s in Store?
Sarah and Neil are on-site, despite hiding out “in the cloakroom,” ready to network, attend breakout sessions, and catch up with clients and industry players.
Some exciting names in the speaker lineup mentioned by our hosts include:
- Jim Chalmers (Treasurer) and Daniel Molino (Assistant Treasurer)
- Ted O’Brien (Shadow Treasurer)
- Brad Jones (Assistant Governor, RBA)
- Carmen Beverly-Smith (Executive Director for Super, APRA)
- Guy Opperman (former UK Pensions and Financial Inclusion Minister—also a steeplechase jockey!)
- Heather Gray (Lead Ombudsman for Super, AFCA, and friend of the show)
- Katie Miller (Deputy CEO, AUSTRAC)
- Simon Kucher (Demographer and chart enthusiast)
Expect plenty of debates, policy discussions, and a little bit of classic super industry gossip.
🍾 Evening Events & Industry Networking
Sarah has her ticket for the MetLife event, while Neil looks forward to SS&C/Chandler event and networking with the well-connected IQ Group folks. With suppliers bringing forward their main events, tonight’s the perfect chance for catch-ups and maybe a bit of chaperoning!
💡 Big Idea: Are We Protecting Super Members Enough?
A real-life story from Neil’s Melbourne Cup lunch sparks a crucial debate: What happens when members cash out their super early and risk running out of savings before qualifying for the Age Pension? The team dives deep:
- Should our system be even more “default” to help protect low-literacy and risk-averse members?
- Are lifecycle products the answer, or would that erode personal choice too much?
- Is it worse to have people lose out through fraud or through their own poor financial decisions?
Sarah notes that while defaults work for most, the outliers prove the system isn’t perfect. It’s sobering to hear that many people—especially singles without a home—struggle far more than we might realise.
📈 Super Fund Investment Mix: Are “Balanced” Options Really Balanced?
Our hosts observe that MySuper products have become much more growth-oriented, moving from a 50/50 split to 70/30 or even 80/20 in favor of growth assets. Sarah loves a good graph, but worries marketing may mislead members into thinking these funds are “balanced”—when in reality, they’re taking much more risk.
🔍 Transparency & Labeling in Super: Do Members Need More Detail?
From asset type labelling (is property “growth” or “defensive”?) to demands for granular investment disclosure, our hosts agree: There’s a market segment that wants more info, but most people benefit from simplicity. If you crave details, wrapping platforms and SMSFs might be your best bet—but beware the challenge of beating professional fund managers.
🤳 Now on YouTube!
The show has launched a new YouTube channel—perfect for those who love to listen on the tube. (No smiling faces yet, but keep the pressure on Sarah for a video edition!)
🚩 Think We Should Talk?
If there’s a topic you’d love us to tackle or you think we should connect, just reply or book a meeting via the show notes.
Don’t forget: Follow That Super Show, share with your super colleagues, and watch for our next live wrap-up post-ASFA!
Until next time,
— Neil & Sarah
That Super Show
Sarah Penn, CEO of Mayflower Consulting
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Neil Benson
