77% of Australians are concerned about retirement savings security, MUFG Retirement Solutions’ research reveals

7 August 2025: New research commissioned by MUFG Retirement Solutions, a division of MUFG Pension & Market Services (“MPMS”) reveals that 77% of Australians are moderately to highly concerned about cyberattacks impacting their superannuation, with more than half saying they would consider switching funds if digital security or user experience falls short.

The nationally representative findings of 500 respondents detailed in the ‘Protecting Australia’s Retirement Savings in a Digital World’ whitepaper explores consumer sentiment, digital preferences and security expectations following recent cyber incidents.

The research calls for an industry-wide uplift in digital identity and fraud protection capabilities after the 2025 Cybersecurity Ventures Cybercrime Report found cybercrime is a booming global industry, projected to hit $10.5 trillion annually in 2025. Australia’s superannuation sector is a prime target with total assets reaching nearly $4.1 trillion¹ in the March quarter of this year. 

Among the standout results:

• Confidence in superannuation security was rated just 3 out 5
• 61% of Australians say stronger security features would increase their loyalty to a fund
• 69% already use and are familiar with fingerprint or facial recognition tools
• 91% expect verification for high-risk and major transactions
• 64% say they now check their super more than once per month

The whitepaper also outlines how MUFG Retirement Solutions is responding – from piloting biometric eKYC onboarding and exploring verifiable credentials with leading innovators, to expanding its ALERT fraud detection system, which actively protects more than 30 million accounts and recently prevented an estimated $21 million in attempted fraud.

These tools are part of the broader MUFG Retirement Solutions’ prisma Security Platform – a suite of products and services delivering world-class security and risk management. Built to protect member data and assets, prisma combines advanced technology, specialist expertise, real‑time anti‑fraud tools, identity verification, access controls, and threat monitoring – all supported by ISO 27001 certification and global best practices.

Frank Lombardo, CEO of MUFG Retirement Solutions (ANZ), said: “Trust is everything in superannuation, and the growing cybersecurity threat is putting that trust to the test. Members now expect the highest levels of protection and a seamless experience from their service providers – and our research shows that if they don’t get it, they’ll consider moving funds.

“MUFG Retirement Solutions is investing in next‑generation identity and fraud prevention tools so our clients can give their members confidence that their retirement savings are safe, without compromising on convenience.”

You can download MUFG Retirements Solutions’ whitepaper here: Protecting Australia's Retirement Savings

1  APRA Superannuation Statistics for March 2025

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About MUFG Pension & Market Services

MUFG Pension & Market Services is a member of MUFG, a global financial group. We are a global, digitally enabled business that empowers a brighter future by connecting millions of people with their assets – safely, securely and responsibly.

Through our two market leading businesses MUFG Retirement Solutions and MUFG Corporate Markets, we partner with a diversified portfolio of global clients to provide robust, efficient and scalable services, purpose-built solutions and modern technology platforms that deliver world class outcomes and experiences.

We help manage regulatory complexity, improve data management and connect people with their assets, through exceptional user experience that leverages the expertise of our people combined with scalable technology, digital connectivity and data insights.

Media Contact

Nick Howe, GRACosway for MUFG Pension & Market Services
+61 407 183 221