Statement on the fourth interim report from the Senate Economics References Committee Inquiry into improving consumer experiences, choice, and outcomes in Australia’s retirement system

June 30, 2025

The Super Members Council is disappointed by commentary made today in the fourth interim report into Australians’ retirement system.

We respect the Senate and its Committees and have actively supported the work of this inquiry diligently at every stage.

This included developing two comprehensive written submissions informed by new analysis and responding to 54 additional written questions.

We also appeared at a hearing and went above and beyond to provide additional information, analysis and modelling on retirement to support the Committee’s work.

All super funds that appeared before this inquiry and received written questions were profit-to-member funds and members of the Super Members Council.

We continue to engage constructively on evidence-based policy that benefits super fund members.

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Upcoming events

A Fair Retirement: Removing Barriers in Super for First Nations Peoples

Aboriginal and Torres Strait Islander people rightly expect a super system grounded in cultural safety—one that actively respects, honours, and safeguards every person’s economic wellbeing. Yet the super system in Australia was not originally designed with the unique experiences and needs of many First Nations people front of mind.

This can make it harder for First Nations peoples to truly experience the full benefits of super in its life-changing purpose to deliver a transformative uplift in retirement incomes to millions of everyday Australians who would otherwise have to survive on modest income from the Age Pension alone.

Please join SMC and a panel of eminent experts to explore these issues, featuring:

– Leah Bennett MAICD, proud Wiradjuri and Ngiyampaa woman, First Nations Foundation, CEO

– Dr June Smith, proud Kureinji woman, AFCA, Deputy Chief Ombudsman

– Misha Schubert, Super Members Council, CEO

– Sonia Hunyadi, Super Members Council, Policy Advisor

18 Mar 2026 , 11:30am-12:15pm

Event details

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The power of super: Building wealth for everyday Australians

Over the past two decades, middle Australia has seen the biggest growth in its overall wealth than in any previous era in our country’s history, driven in large part by the strength, scale and long‑term performance of the superannuation system. Non-housing wealth levels have nearly tripled for middle Australians who are recently retired – a 196% increase- and a five-fold increase in super has been the main driver of this rising prosperity. Today, millions of everyday Australians are major shareholders in the success of our national economy, benefiting from diversified portfolios that include major infrastructure assets, leading Australian companies, and more than $1.35 trillion in global investments.

Join SMC and a panel of experts to unpack our new report and explore how super has built household wealth and reshaped Australia’s economic landscape – delivering more income, freedom and security in retirement.

The webinar will feature:

– Mark Delaney, Chief Investment Officer, AustralianSuper

– David Whiteley, Global Head, External Relations, IFM Investors

– Misha Schubert, CEO, Super Members Council

– Aime Loydell, Senior Manager, Super Members Council

23 Mar 2026 , 2:00pm-2:45pm

Event details

Zoom

Online