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Superannuation funds

Current projects and consultations

This page provides an overview of ASIC’s priorities and projects for the current financial year, current consultations, and information on recent reforms. For information on our strategic priorities and actions over the next four years, see ASIC’s Corporate Plan.

Strategic priorities and projects

Our strategic priorities are to:

  • Improve consumer outcomes – Driving better outcomes for consumers of financial products and services, with a focus on credit and financial hardship, dispute resolution, scams, insurance, and trusted financial education through ASIC’s Moneysmart.
  • Strengthen market disclosure and professional conduct – Strengthen market disclosure foundations and conduct by ASIC-regulated professionals, with a focus on financial reporting, climate reporting, auditors, and director conduct.
  • Support better retirement outcomes and member services – Driving better outcomes for Australians planning for and in retirement, with a focus on superannuation member services, retirement outcomes, and exploitation of superannuation savings.
  • Strengthen operational digital and data resilience and safety – Minimising instability, technology, cyber and data-related risks across our markets, with a focus on stress events, geopolitical risks and crisis preparedness, ASX critical infrastructure, cyber resilience, and use of AI.
  • Drive integrity and transparency across markets – Strengthening integrity and efficiency across markets, with a focus on the cleanliness of, access to and participation in our public markets, changing risks in our private markets, and tokenisation and supporting transition to digital asset reforms.

Superannuation projects

In 2025-26, ASIC’s key activities in superannuation will focus on:

  • Reviewing member services – Commencing the next phase of our multi-year member services review, which focuses on how superannuation trustees use complaints data to identify and address systemic issues. We will also review whether there has been an uplift in practices following Report 806 Taking ownership of death benefits: How trustees can deliver outcomes Australians deserve (REP 806). Where we identify poor conduct, we will take enforcement or other regulatory action aimed at driving improved services for superannuation fund members and improved retirement outcomes.
  • Driving industry progress towards improving retirement outcomes – Continuing our deep dive into retirement-focused member communications, decision-making processes, and guidance tools delivered by superannuation trustees. This is part of our ongoing work monitoring industry practice since the implementation of the retirement income covenant. As part of the Australian Government’s Improving the retirement phase of superannuation reforms, we will conduct a joint ‘pulse check’ project with APRA to monitor trustees’ progress in implementing their strategies under the covenant, and to inform the design of the Retirement Reporting Framework.
  • Consumer education and resources on superannuation and retirement – Leading a consumer education campaign for people approaching and in retirement. The campaign aims to build awareness of the expanded and updated superannuation and retirement resources available on our Moneysmart website, ensuring easy access to independent and reliable information to help Australians make informed retirement decisions.
  • High-risk superannuation switching – We will conduct a review of superannuation trustee practices to better understand the steps they have taken to disrupt the high-risk super switching model. This will build on the work of Report 781 Review of superannuation trustee practices: Protecting members from harmful advice charges (REP 781) and Report 779 Superannuation and choice products: What focus is there on performance? (REP 779).

Some of ASIC’s cross-sector projects for 2025-26 are also particularly relevant for superannuation trustees including:

  • Good practices for managing risk — Promoting good practices for managing cyber and operational risks among ASIC’s regulated population. Our focus will be on geopolitical risks, incident response and internal communications, increasing the engagement and resilience of regulated entities, and cross-agency collaboration. We will take enforcement action, where necessary, to protect investors and consumers, focusing on business, cyber and operational resilience, technology-enabled scams and misconduct, and poor use of AI.
  • Sustainability reporting and other sustainability-related actions – Proactively reviewing sustainability reports and providing support through guidance, capacity building, relief and engagement. We will take a pragmatic and proportionate approach to supervision and enforcement of the sustainability reporting obligations. We will take regulatory or enforcement action, where necessary, to protect investors and consumers.
  • Financial reporting and audit — Continuing to proactively review financial reports and audits of listed entities and entities of public interest, including registrable superannuation entities, and report on the outcomes. We will act against entities who do not comply with obligations to lodge financial reports.
  • Changing market dynamics – Building an ASIC-wide strategy to respond to the future shape of public and private markets. To support our thinking and future actions, we are conducting a surveillance of retail and wholesale private credit and equity funds, focusing on governance, valuation practices, liquidity, conflicts of interest, fees, disclosure and distribution. We will outline our future actions in a roadmap and may include supplementary guidance and more targeted surveillance.

Superannuation consultations

Visit Regulatory resources and news for a list of all open and closed consultations.