Sharing perspectives on Payday Super

Frank Lombardo, CEO of MUFG Retirement Solutions ANZ, recently joined the Super Review podcast to discuss Payday Super and what the reform means for members, employers and the broader retirement industry.

Now live from 1 July, Payday Super is one of the most significant changes to Australia's superannuation system in decades. By bringing super contributions closer to when Australians are paid, the reform aims to improve transparency, reduce the risk of delayed or unpaid super, and help retirement savings start working sooner.

In the discussion, Frank explores how Payday Super is about more than compliance. It represents an opportunity to modernise Australia's retirement system and strengthen member outcomes through better use of technology, data and engagement.

Key themes from the conversation include:

• More frequent super contributions can improve visibility, transparency and confidence for members.
• Greater access to timely contribution data creates opportunities to strengthen engagement and deliver more personalised experiences.
• Successful implementation will rely on collaboration between employers, payroll providers, funds, administrators and government.
• The organisations that embrace Payday Super as an opportunity to modernise, will be best positioned for long-term success.

Looking ahead, a modern retirement system will require greater simplicity, improved access to guidance and advice, secure technology, and ongoing industry collaboration.

As one of Australia's leading retirement services providers, supporting more than 9.5 million member accounts, MUFG Retirement Solutions continues to work closely with clients across the industry to help navigate change and deliver better retirement outcomes for Australians.

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