Super Advertising Bans to Employees, Advisor Education Reforms, and the Unintended Consequences of the Performance Test

#24. On this episode of That Super Show, co-hosts Neil Benson and Sarah Penn break down the Treasury’s proposed ban on super fund advertising during onboarding, the shakeup in advisor education requirements, and dig into why APRA and the ATO are getting twitchy about payday super implementation (spoiler: small business, we see you…). Plus, are performance tests quietly killing investment innovation in Australia?

HighlightsSuperannuation advertising ban consultation launches - employers can only display employee's stapled fund, employer's default fund, or a MySuper product from another fund. Bill has passed both houses, now Treasury is consulting on the regulations to support it.Education reform for financial advisers - Consult hub - Treasury has launched consultation paper regarding new class of financial advisors as part of DBFO T2.Payday Super Readiness | APRA - ATO and APRA have published a letter to RSEs to brace themselves and buckle up! APRA has concerns about some funds' readiness for Payday Super.‘Parliamentary Friends’ launch sharpens focus on super - Super ReviewSuperannuation performance test is stuck in red tape and could be creating a stagnant economy - performance test doesn't encourage outperformance, it discourages underperformance. As a result, money flows into indices, not into innovation.

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Your CohostsSarah Penn

Sarah Penn is the CEO and founder of Mayflower Consulting, an Australian financial services consultancy specialising in product governance, PDS management, and product operating model design. Her team works with super funds, fund managers, and investment platforms across Australia.

Connect with Sarah on LinkedInFollow Mayflower Consulting on LinkedInVisit Mayflower Consulting website

Neil Benson

Neil Benson is the global chief product officer at ChandlerCX, where he leads a team focused on intelligent customer messaging for regulated organisations, including superannuation funds, banks, insurers, utilities and public sector organisations. His AI startup, Novagentic, was acquired by ChandlerCX in February 2026.

Connect with Neil on LinkedInFollow ChandlerCX on LinkedInVisit ChandlerCX website

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