JANA believes a key outcome of the SPS515 requirements is the enhanced focus on retirement adequacy. That is, what amount of retirement income is a superannuation fund’s default MySuper option expected to deliver for a fund’s members? Assessing retirement adequacy given the complex Australian retirement system can be challenging but we firmly believe this important endeavour can be achieved. We have outlined a practical, robust and flexible framework in the article attached.

The release of the inaugural APRA heatmap, one of a suite of tools to be used by the regulator to try and drive up the quality of outcomes delivered to superannuation members.