Shows
That Super ShowHow Will Australians Retire in 2040? Insights from the ASFA Conference#12 Neil and Sarah have just wrapped up at the ASFA conference, and they reconnect with industry leaders and discuss the latest trends shaping super, from digital innovation and regulatory challenges to the future of retirement. This episode features expert insights from guests like Jane Couchman from Aware Super, Zen el Hassan from Mills Oakley, and Shaun Branston from TAL Australia, covering everything from the rapid rise of AI in compliance to the changing expectations of retirement for future generations. 00:34 Exciting exhibitors at ASFA Conference03:01 Zen el Hassan, Partner at Mills Oakley, on AI...
2025-11-1829 minThat Super ShowSuperannuation’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...
2025-11-1420 minThat Super ShowSuperannuation Under the Microscope: Fees, Taxes, The Gender Gap, and Annuities#10. Co-hosts Sarah Penn and Neil Benson discuss the latest news and issues affecting the Australian superannuation sector. We cover:Big fines in the industry: ASIC and CBUS settle member claims delays with a $23.5 million fine, highlighting the financial pain for profit-to-member funds and contrasting it with corporately-owned funds like Macquarie.Super tax complexity: The introduction of new rates brings the tally to 20 different tax rates within superannuation, sparking debate about fairness and system complexity.Gender disparity in super balances: Data shows continuing gaps between men’s and women’s average and median super balances, with recent policy changes like...
2025-10-2935 minThat Super ShowSanity Prevails: Breaking Down the Latest Superannuation Tax Changes and Payday Super#9. Neil and Sarah sit down to discuss the latest developments in Australian superannuation policy. After two years of debate and lobbying, the government has announced changes to the proposed Div296 tax on high-balance super accounts, opting to tax only realised capital gains rather than unrealised gains. They also explore the introduction of a new 40% tax rate on income from super balances over $10 million, and consider the broader impact of these reforms on both high-net-worth individuals and everyday members. The conversation covers updates to the low-income super tax offset (LISTO) and the rollout of Payday Super, which will...
2025-10-2121 minThat Super ShowJoe Longo’s Exits ASIC Exit, SMSF Risks, DIV296 Delays and Aged Pension Asset Test Debate#8. Co-hosts Neil Benson and Sarah Penn discuss the latest news and events affecting Australia's superannuation sector, including:Joe Longo is stepping down as chair of ASICMacquarie Investment Management offers compensation to SMSF trustees who invested in Shield through its wrap platformThe role of superannuation trustees in determining which investments are available to members and whether SMSF trustees should require a qualificationThe role of the Compensation Scheme of Last Resort in compensating clients of failed advisorsDelays to Div296 legislation and the principal of taxing unrealised capital gainsIFM Investments to close their private equity unit despite its track record of...
2025-10-0727 minThat Super ShowNavigating NPP and Payday Super: what super funds need to know#7. Co-hosts Sarah Penn and Neil chat with Marnie Ryan, head of product innovation and enablement at AP+ (formerly NPP Australia). We cover:NPP and Superannuation: From 1 July 2026, funds must accept real-time payments via the New Payments Platform (NPP)—mandatory, and separate from Payday Super legislation.Modernising Payments: Transition away from BECS is set for 2030. Super funds need to get ready to shift from batched, delayed payments to instant, always-on transactions.Reconciliation Revolution: NPP upgrades solve historic problems with payment reference numbers, making reconciliation faster and easier—especially important for super contributions.Pilot Programs in Action: Leading funds and clea...
2025-09-2333 minThat Super ShowBold moves for super: reforms, regulation and the housing investment debate#6. Co-hosts Sarah Penn and Neil Benson break down the latest news and debates in the superannuation sector. We cover:Legislative inaction: Despite big talk from government and industry summits, there’s little movement yet on significant superannuation or tax reforms.Super funds vs. ATO: HESTA and ART are taking legal action against the ATO over imputation credits, fighting for millions owed to members and highlighting rare but bold fund challenges to regulators.Performance test wrap-up: All 54 MySuper products passed this year, signaling improved standards, but some products—especially trustee-directed ones—remain borderline or repeatedly fail.Product closures and member...
2025-09-0930 minThat Super ShowInside complaints data: Insights from Heather Gray, Lead Ombudsman Superannuation at AFCA#5. Co-hosts Sarah Penn and Neil Benson chat with Heather Gray, Lead Obudsman, Superannuation at Australian Financial Complaints Authority. We cover:Complaints as Feedback: Complaints are valuable for identifying service improvement areas, even though funds aim to minimize them.Drop in Insurance Delay Complaints: There has been a notable reduction (39%) in complaints about delays in insurance claims within super funds, indicating successful improvements.Importance of Communication: Clear and timely communication—especially during incidents like cyber attacks—is critical in maintaining trust and managing complaints.Systemic Issues vs. Human Error: Sarah is surprised to learn that maybe a high proportion of human...
2025-08-2641 minThat Super ShowFrom DDO to FAR: What’s shaping superannuation’s future right now#4. Sarah Penn and Neil Benson discuss the latest news and views affecting Australian superannuation professionals.AFCA Complaints Down: Overall complaints about financial services are down 4%, with superannuation-specific complaints dropping a huge 16%. Notably, complaints about claims handling fell by 39%, signalling real operational improvements across the industry.DDO & “Reasonable Steps” Under the Microscope: Design and Distribution Obligations (DDO) have moved the focus from “buyer beware” to responsible design and distribution. Expect ASIC to sharpen its scrutiny—not just on disclosures (like TMDs), but on product distributors and the steps funds take to ensure their products reach the right consumers.The FAR Era Be...
2025-08-1122 minThat Super ShowWell-intentioned mishaps: when tech goes wrong#3. Sarah Penn (CEO of Mayflower Consulting) and Neil Benson (CEO of Superware) discuss the latest news and views affecting Australian superannuation professionals.Do we really care about 1 year fund returns or is it just marketing?Binding death benefit nominations - don't write 100.00%Sarah was at risk conference so wants to talk it.When good intentions end badly and what we can learn when it all goes sidewaysBig ideas:the bow tie of risk management - example here: https://www.manycaps.com/blog/risk/8-steps-to-bow-tie-analysis. Neil has a new complaints scorecard tool: https://superware.ai...
2025-07-2829 minThat Super ShowIs it OK for funds to spend $$$ on marketing?#2. Sarah Penn and Neil Benson discuss the latest news and views affecting Australian superannuation professionals.NEWS:APRA on the warpath re fund expenditure. "Where APRA identifies practices which fall short of legal requirements, APRA will utilise the full range of its powers to hold an RSE licensee accountable."Super funds on track for 3rd consecutive year of robust returns. AMP includes crpyto in it's super portfolio.ATO approves NPP as payment method for payday super. BIG IDEA:Framing, and why it matters in superOUR RECOMMENDATIONS:Sarah recommends 'Coaching real...
2025-07-1437 minThat Super ShowIt's Launch Day!#1. #4. Sarah Penn (CEO of Mayflower Consulting) and Neil Benson discuss the latest news and views affecting Australian superannuation professionals.NEWS:Div296/$3m super tax/unrealised gainstax benefits from super more than cost of age pension systemAPRA tells funds to get on with consider MFAimpacts of super AML exemptionJoe Longo (ASIC Director) tells super directors to do betterAnd speaking of directors, CPS510 (Governance) out for consultationQuality of Advice review - second tranche of legislation finally on the wayBIG IDEA:how to successfully navigate a business case for software when the outcome isn't certain...
2025-07-0137 min