#25. Should retirees be forced to take a pension? Why are Treasury’s latest consultation papers sending shockwaves through the super industry? We break it down for you in this episode.

Highlights1. Enhancing Member Protections in the Super System

• The definition of a platform trustee — and why it matters (02:08)
• Increased penalties for misconduct: who really ends up paying? (05:05)
• Proposed waiting periods for super fund switching: policy fail or protection? (06:19)
• How compensation proposals could change platform oversight (11:00)

2. Curbing Lead Generation Activity

• Should lead generators be licensed like financial advisors? (18:19)
• Practical limits on financial product advertising and social media marketing (20:20)
• The ongoing crackdown on “finfluencers” and general advice (23:45)

3. Compensation Scheme of Last Resort (CSLR)

• Why SMSFs are making most of the claims, and why Neil believes they should pay a levy (25:25)
• Is the CSLR a fair system, or just a cost passed to trustworthy advisors? (26:02)
• Should government step in as the safety net instead? (30:19)

🔑 Key Takeaways

• Waiting periods for super switching: Sarah argues these do little to protect consumers and mostly benefit big funds (07:34).
• Platform responsibility: Neil and Sarah both support stricter platform oversight, especially when large sums move into single risky investment options (13:14).
• Lead generation reform: Marketing firms involved in product distribution should fall under AFSL licensing, making enforcement easier and consumer harm less likely (19:17).
• CSLR funding: Most compensation claims come from SMSFs; making them contribute seems logical, but the hosts suggest a government backstop would be even better (29:16).

👉 Have Your Say

Working in super? Treasury is seeking feedback on these proposals. Got strong views? Sarah and Neil want to hear from you. Drop them a line or reply to this email if you’d like to come on the show.

That Super Show

That Super Show is the most downloaded podcast for Australian superannuation professionals. Sarah and Neil cover the issues, debates and decisions shaping the industry - without the spin.

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Your Cohosts

Sarah Penn

Sarah Penn is the CEO and founder of Mayflower Consulting, an Australian financial services consultancy specialising in product governance, PDS management, and product operating model design. Her team works with super funds, fund managers, and investment platforms across Australia.

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Neil Benson

Neil Benson is the global chief product officer at ChandlerCX, where he leads a team focused on intelligent customer messaging for regulated organisations, including superannuation funds, banks, insurers, utilities and public sector organisations. His AI startup, Novagentic, was acquired by ChandlerCX in February 2026.

• Connect with Neil on LinkedIn
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• Visit ChandlerCX website

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