#6. Co-hosts Sarah Penn and Neil Benson break down the latest news and debates in the superannuation sector.

• 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 impact: Funds are reviewing and closing underperforming or underutilized investment options, which can be challenging for members accustomed to “set and forget” strategies.
• Housing investment hurdles: Discussion on the role of super funds in addressing the housing crisis; fund appetite tempered by regulatory barriers and the lack of collaborative investment pathways with government and global partners.
• Retirement income guidance: Treasury’s draft guidance pushes funds to segment retired cohorts, but Sarah questions the practicality when funds lack access to broader financial data like Centrelink or home ownership.
• Annuities debate: Despite financial wellness benefits, annuities have an image problem and low demand, with Sarah arguing sales challenges outweigh consumer appetite, while Neil remains optimistic for innovation.
• Data-driven advice barriers: Funds can’t access enough external data to offer holistic advice; calls for leveraging consumer data rights and streamlining processes to improve member outcomes and reduce advice costs.
• Rethinking member engagement: The importance of designing processes that help customers provide funds with the right information, enabling more effective support and digital solutions.
• Upcoming events: Recommendations for FSC’s retirement conference, member engagement forums, and the ASFA conference on the Gold Coast.

This episode unpacks systemic friction points in super—from regulatory reform and investor confidence to practical hurdles in retirement solutions and member support.

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.

Subscribe to the show wherever you listen to podcasts and don't forget to leave us a rating and review.

• Visit That Super Show website and become a newsletter subscriber
• Email [email protected] if you've got a topic you'd like us to cover or a guest proposal or suggestion
• Follow That Super Show on LinkedIn
• Follow That Super Show on YouTube

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.

• Connect with Sarah on LinkedIn
• Follow Mayflower Consulting on LinkedIn
• Visit Mayflower Consulting website

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
• Follow ChandlerCX on LinkedIn
• Visit ChandlerCX website

Mentioned in this episode:

Mayflower Consulting

This episode is brought to you by Mayflower Consulting. We work with product teams across super funds, fund managers, and platforms to move faster. Faster PDS updates, faster decisions, and less friction. If governance is slowing you down, we can fix that.

Mayflower Consulting

#5. Co-hosts Sarah Penn and Neil Benson chat with Heather Gray, Lead Ombudsman, Superannuation at Australian Financial Complaints Authority.

• 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 error-caused complaints is actually right!
• Data Usage: Complaint data is transparent and shared with trustees, allowing for benchmarking and industry-wide improvement.
• Rising Member Expectations: Members now expect higher service standards from funds, paralleling experiences in other industries.
• Clarity in Correspondence: Superannuation communications need to be clear, tailored, and actionable to prevent confusion and reduce complaints.

• Connect with Heather Gray on LinkedIn
• Follow AFCA on LinkedIn
• Visit AFCA website

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.

Subscribe to the show wherever you listen to podcasts and don't forget to leave us a rating and review.

• Visit That Super Show website and become a newsletter subscriber
• Email [email protected] if you've got a topic you'd like us to cover or a guest proposal or suggestion
• Follow That Super Show on LinkedIn
• Follow That Super Show on YouTube

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.

• Connect with Sarah on LinkedIn
• Follow Mayflower Consulting on LinkedIn
• Visit Mayflower Consulting website

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
• Follow ChandlerCX on LinkedIn
• Visit ChandlerCX website

Mentioned in this episode:

Mayflower Consulting

 This episode is brought to you by Mayflower Consulting. If your product team is capable, stretched, and the important structural work keeps getting pushed, that's where we come in. We embed with your team, get the work done, and leave you more capable.

Mayflower Consulting

#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 Begins: The Financial Accountability Regime (FAR) is now live, bringing tough new documentation and accountability standards for executives. The need for clear, demonstrable “reasonable steps” is real—so now’s the time for internal checks and keeping your house in order.

We also touched on the value of finishing what you start (hello, RG146 training!) and managing those ever-spinning plates. And if you’re in the document weeds, don’t miss the PDS Manager Roundtable coming up in August.

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.

Subscribe to the show wherever you listen to podcasts and don't forget to leave us a rating and review.

• Visit That Super Show website and become a newsletter subscriber
• Email [email protected] if you've got a topic you'd like us to cover or a guest proposal or suggestion
• Follow That Super Show on LinkedIn
• Follow That Super Show on YouTube

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.

• Connect with Sarah on LinkedIn
• Follow Mayflower Consulting on LinkedIn
• Visit Mayflower Consulting website

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
• Follow ChandlerCX on LinkedIn
• Visit ChandlerCX website

Mentioned in this episode:

Mayflower Consulting

 This episode is brought to you by Mayflower Consulting. If your product team is capable, stretched, and the important structural work keeps getting pushed, that's where we come in. We embed with your team, get the work done, and leave you more capable.

Mayflower Consulting

#3. Sarah and Neil discuss the latest news and views affecting Australian superannuation professionals.

00:02 - Introduction to the Super Industry

06:14 - Navigating Superannuation: The Importance of Proper Documentation

13:52 - Understanding Risk Management: The Bowtie Theory

20:57 - Introduction to the Complaints Resolution Scorecard

27:22 - Exploring AI Tools for Productivity

• 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/financial-services/complaints-scorecard

• Coaching real leaders podcast https://hbr.org/2020/12/podcast-coaching-real-leaders
• Relay.App for creating AI agents: https://relay.app

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.

Subscribe to the show wherever you listen to podcasts and don't forget to leave us a rating and review.

• Visit That Super Show website and become a newsletter subscriber
• Email [email protected] if you've got a topic you'd like us to cover or a guest proposal or suggestion
• Follow That Super Show on LinkedIn
• Follow That Super Show on YouTube

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.

• Connect with Sarah on LinkedIn
• Follow Mayflower Consulting on LinkedIn
• Visit Mayflower Consulting website

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
• Follow ChandlerCX on LinkedIn
• Visit ChandlerCX website

Mentioned in this episode:

Mayflower Consulting

This episode is brought to you by Mayflower Consulting. We work with product teams across super funds, fund managers, and platforms to move faster. Faster PDS updates, faster decisions, and less friction. If governance is slowing you down, we can fix that.

Mayflower Consulting

#2. Sarah Penn and Neil Benson discuss the latest news and views affecting Australia's superannuation sector.

• 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.

• Framing, and why it matters in super

• Sarah recommends 'Coaching real leaders' HBR podcast.
• Neil recommends fyxer.ai to help manage and write emails for you (but just be careful it doesn't create more work for you!)

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.

Subscribe to the show wherever you listen to podcasts and don't forget to leave us a rating and review.

• Visit That Super Show website and become a newsletter subscriber
• Email [email protected] if you've got a topic you'd like us to cover or a guest proposal or suggestion
• Follow That Super Show on LinkedIn
• Follow That Super Show on YouTube

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.

• Connect with Sarah on LinkedIn
• Follow Mayflower Consulting on LinkedIn
• Visit Mayflower Consulting website

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
• Follow ChandlerCX on LinkedIn
• Visit ChandlerCX website

Mentioned in this episode:

Mayflower Consulting

This episode is brought to you by Mayflower Consulting. We work with product teams across super funds, fund managers, and platforms to move faster. Faster PDS updates, faster decisions, and less friction. If governance is slowing you down, we can fix that.

Mayflower Consulting

#1. Sarah Penn and Neil Benson discuss the latest news and views affecting Australian superannuation professionals.

• Div296/$3m super tax/unrealised gains
• tax benefits from super more than cost of age pension system
• APRA tells funds to get on with consider MFA
• impacts of super AML exemption
• Joe Longo (ASIC Director) tells super directors to do better
• And speaking of directors, CPS510 (Governance) out for consultation
• Quality of Advice review - second tranche of legislation finally on the way

• How to successfully navigate a business case for software when the outcome isn't certain (because it never is)
• How to manage up - HBR Women at Work podcast

• Nnominate yourself or someone else for an award. It's worth the effort.
• IBR Annual Future Risks 2025: Superannuation Risks and Governance Conference, 9-10 July 2025, Sydney. Register here.

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.

Subscribe to the show wherever you listen to podcasts and don't forget to leave us a rating and review.

• Visit That Super Show website and become a newsletter subscriber
• Email [email protected] if you've got a topic you'd like us to cover or a guest proposal or suggestion
• Follow That Super Show on LinkedIn
• Follow That Super Show on YouTube

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.

• Connect with Sarah on LinkedIn
• Follow Mayflower Consulting on LinkedIn
• Visit Mayflower Consulting website

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
• Follow ChandlerCX on LinkedIn
• Visit ChandlerCX website

Mentioned in this episode:

Mayflower Consulting

 This episode is brought to you by Mayflower Consulting. If your product team is capable, stretched, and the important structural work keeps getting pushed, that's where we come in. We embed with your team, get the work done, and leave you more capable.

Mayflower Consulting

Resources

• ASIC: 806 Taking ownership of death benefits: How trustees can deliver outcomes Australians deserve
• ASIC: AustralianSuper fined $27 million after ASIC investigation into failing to merge multiple superannuation accounts
• Treasury: Options for Improving the Safety of Superannuation - Report of the Superannuation Working Group
• Treasury: Payday Super - exposure draft

Events

1. Future of Fund Admin Form 2025, 15-16th May, Sydney
2. CREW: Preparing for ‘Sustainability Reporting’ for the upcoming Climate Related Financial Disclosures, 14th May, online
3. PDS Manager Roundtable, 21st May, online. Register with Katie.