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Article | Super Update

Regulators’ concerns around governance and death claims handling

Super Update, May 2025

May 21, 2025

This issue of our Super Update covers ASIC’s review of death benefit claims handling, APRA’s discussion paper on new governance proposals, and the draft Payday Super legislation.
Retirement
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Our May 2025 Super Update provides a detailed analysis of the latest regulatory developments impacting the superannuation industry. In this edition, we summarise ASIC’s report on super funds’ handling of death benefit claims, outline APRA’s proposed changes to governance for regulated entities, and examine the government’s draft Payday Super legislation. Here is what you need to know:

Superannuation updates

ASIC review of death benefit claims handling

ASIC has released a comprehensive report following its review of how super funds manage death benefit claims. This update includes a summary of ASIC’s findings and its expectations for all super funds.

APRA’s governance requirements and the draft Payday Super legislation

We review APRA’s proposals to improve governance arrangements across all regulated entities, including super funds. We also summarise Treasury’s draft legislation to implement the government’s Payday Super proposals.

Super news in brief

Our news in brief section includes:

  • The next batch of draft advice legislation
  • ASIC‘s plan to publish firm-level complaints and breach data
  • ASIC’s new Regulatory Guide on sustainability reporting
  • The proposed financial sector levies for 2025–26
  • The key superannuation thresholds for 2025–26
  • The latest statistical publications

Legislative update

As always, we provide a summary of recent legislative developments and a guide to key superannuation changes, including their effective dates.

To learn more and stay informed, download our full update prepared by our experts, and help your members navigate their retirement journey with confidence.

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Title File Type File Size
Supar Update - May 2025 PDF .7 MB
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