"Australia’s super system needs to adapt."

That is the first line from the APC 2019 Inquiry into Superannuation, summarising their findings. The following are some of the key points taken verbatim from that report.

"Structural flaws — unintended multiple accounts and entrenched underperformers — are harming millions of members, and regressively so."

Millions of Australians have been defaulted and are unaware. Millions of Australians have multiple accounts or lost funds and are unaware.

"A third of accounts (about 10 million) are unintended multiple accounts. These erode members’ balances by $2.6 billion a year in unnecessary fees and insurance."

Our process shows you if you have multiple, hidden, or lost accounts, which then gives you the option to consolidate them.

"While some funds consistently achieve high net returns, a significant number of products underperform, even after adjusting for differences in investment strategy."

Our process shows you the investment strategy of your current fund.

"Evidence abounds of excessive and unwarranted fees in the super system."

All our fees are transparent. When you receive an SOA from our partners, all fees are factored in to your projections, rather than hidden at the bottom of the page.

"Regulations (and regulators) focus too much on the interests of funds and not members."

We only focus on your interests, not the interests of any super fund corporation.

"Members should only be defaulted once, and move to a new fund only when they choose."

Our process shows you if you’ve been defaulted, where you’re on track for at retirement age, and allows you to compare that reality with other options.

"Not all members get value out of insurance in super. Many see their retirement balances eroded — often by over $50 000 — by duplicate or unsuitable (even ‘zombie’) policies."

Our partner financial advisers perform a full insurance review with you, after reviewing your super.

"The system offers products that meet most members’ needs, but members lack simple and salient information and impartial advice to help them find the best products."

We provide salient information and impartial advice to help you find the best product.

"Members should also be empowered to choose their own super product from a ‘best in show’ shortlist, set by a competitive and independent process."

We empower you to choose your own product from a best in show list after a competitive and independent process.

From the Australian Government Productivity Commission Dec 2018 Report | Inquiry into Superannuation