SUPERANNUATION FUNDS IN 2023
As the fifth largest pension system in the world, Australia’s superannuation industry looks after the retirement outcomes of more than 16 million people. Over the last 20 years, it has continued to perform strongly, recording the highest asset growth when compared to all other major markets.
The key theme for the superannuation industry in the last few years however, seems to be change and it is a multi-pronged push – from new regulations to escalating demands for improved customer experience and the impact of uncertain economic conditions.
Against this backdrop of change, Infosys surveyed professionals in the superannuation industry across January 2023 to explore the perceived challenges and opportunities within the market. The results reveal a gap between strategic priorities, such as growth, and current capabilities in critical areas including data and analytics. Additionally, the analysis and expert commentary within the report reveals fresh insights about how funds are transforming operations, empowering employees to serve better – and helping customers achieve greater financial wellbeing.