#25. Should retirees be forced to take a pension? Why are Treasury’s latest consultation papers sending shockwaves through the super industry? We break it down for you in this episode.

1. Enhancing Member Protections in the Super System

• The definition of a platform trustee — and why it matters (02:08)
• Increased penalties for misconduct: who really ends up paying? (05:05)
• Proposed waiting periods for super fund switching: policy fail or protection? (06:19)
• How compensation proposals could change platform oversight (11:00)

2. Curbing Lead Generation Activity

• Should lead generators be licensed like financial advisors? (18:19)
• Practical limits on financial product advertising and social media marketing (20:20)
• The ongoing crackdown on “finfluencers” and general advice (23:45)

3. Compensation Scheme of Last Resort (CSLR)

• Why SMSFs are making most of the claims, and why Neil believes they should pay a levy (25:25)
• Is the CSLR a fair system, or just a cost passed to trustworthy advisors? (26:02)
• Should government step in as the safety net instead? (30:19)

• Waiting periods for super switching: Sarah argues these do little to protect consumers and mostly benefit big funds (07:34).
• Platform responsibility: Neil and Sarah both support stricter platform oversight, especially when large sums move into single risky investment options (13:14).
• Lead generation reform: Marketing firms involved in product distribution should fall under AFSL licensing, making enforcement easier and consumer harm less likely (19:17).
• CSLR funding: Most compensation claims come from SMSFs; making them contribute seems logical, but the hosts suggest a government backstop would be even better (29:16).

Working in super? Treasury is seeking feedback on these proposals. Got strong views? Sarah and Neil want to hear from you. Drop them a line or reply to this email if you’d like to come on the show.

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Sarah Penn, Chief Executive at Mayflower Consulting

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Neil Benson, Chief Product Officer at ChandlerCX

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