Superannuation heatwave – five hotspots for trustees in 2023

Superannuation trustees (Trustees) are under increasing pressure to meet high standards, but there is no consensus as to what those standards should be. Governments and regulators have attempted to legislate their way to a solution and have created something of a regulatory heatwave rolling through the superannuation industry.

While changes so far have been manageable, more complex and inconsistent changes are on the horizon, along with economic and political challenges like the fragile post-pandemic recovery, war in Ukraine, rising inflation, and volatile markets. As a result, the likelihood of some Trustees blistering from the regulatory heat seems inevitable.

Given such trying conditions, Trustees should keep one eye on a rapidly evolving complex legal system and the other on maximising returns. This article identifies five regulatory hotspots that Trustees should immediately address to reduce their operational risks and to overcome these challenges.