ASFA CEO Mary Delahunty delivered the following remarks to over 1,000 delegates at the Gold Coast Convention and Exhibition Centre this morning, in the Conference’s opening keynote session:
“Good morning everyone, and welcome to the 2025 ASFA Conference.
“I’m Mary Delahunty and it is my great pleasure to be the CEO of ASFA. Welcome to the world’s largest superannuation and pension conference.
“I want to thank Erica and Dave from Dreamtime Artistry for that beautiful welcome, and also acknowledge the Kombumerri people, part of the Yugambeh Nation, as the Traditional Custodians of the land on which we gather today. I pay my respects to their Elders, past and present, and extend that respect to all First Nations people joining us today.
“It is wonderful to see so many of you here – leaders, colleagues and friends – all gathered once again to reflect on where we have been and where we are heading as a sector that quite literally safeguards Australia’s future.
“Today, we gather at a pivotal moment for Australia’s superannuation system, a system that has become one of the nation’s greatest social and economic achievements.
“As we navigate an era of rapid change shaped by demographic shifts, economic challenges, geopolitical volatility, technological disruption and evolving policy settings, our collective challenge is clear: to safeguard retirement security while driving innovation and trust. This is not just about managing funds; it’s about shaping futures.
“So this year’s theme, Shaping the Future of Retirement, could not be more fitting. It captures the heart of what we do and the responsibility we hold: to help Australians build, protect and ultimately enjoy the savings that allow them to live with dignity and confidence in retirement.
“We have developed a program centred on professional development opportunities to help you deliver for the hardworking Australians who depend on us.
“Over the past 12 months, our industry has achieved significant progress on many of the priorities that have long been on the policy wish list.
“These wins were certainly not ASFA’s alone. They were the result of a sector determining what matters most and then working together on those issues. Eighteen months ago, the ASFA Board, the team and I reset the ASFA strategy. Our strategic difference – and our strength – is the breadth of our membership spanning the whole super ecosystem.
“This guides the way we approach policy and advocacy. We are intentional and unwavering that our policy voice is balanced and constructive. A constructive voice is one that speaks “sector first”.
“This collaborative model has delivered real outcomes. We’ve seen major reform and renewal across the system: the enshrining of the Objective of Superannuation, the long-awaited super on paid parental leave, progress towards 12 per cent SG, the beginning of massive work on regulatory simplification, potential modernisation of the performance test, tax simplification conversations and mandatory service standards. And of course, the announcement of LISTO improvements and the rollout of Payday Super.
“Through uniting as one voice, we have also seen raiding superannuation to buy a home seemingly fall off any policy agenda. This is very welcome.
“Of course, we’ve also faced challenges, and none of them are completely in the rear-view mirror. How we respond will define this era for super.
“It’s relatively straightforward to identify external issues and push for policy change. Who’s going to argue against LISTO? I mean, explaining it is a mammoth effort – remembering what the letters stand for alone – but opposing it? Almost no one does.
“We can often be in furious agreement about what others need to do to make super stronger, safer, more equitable. What’s far harder, and far more important, is looking inward.
“The real test for our sector is whether we can identify and act on what needs to change within super itself, without waiting for government or regulators to force our hand. That’s how we protect and grow our own prosperity.
“External advocacy builds credibility; internal reform shows integrity and accountability. In short – trust.
“Our industry faced an unprecedented cyber incident this year, with multiple funds being targeted by cyber criminals. While the impact affected a fraction of one per cent of accounts, the impact on trust was not small. We all know this will not be the last time. The honeypot of super is too tempting – but we will not make it easy.
“What we face isn’t a technical problem alone – it’s a system-level risk. One breach doesn’t just affect one fund – it affects confidence in the entire system. As an entire system, we combat it by using our greatest strength – collaboration. The nation is watching; we will get this right.
“The expectations of regulators, government and the community have been made clear: one solution across the sector, and we are steadfast in being able to deliver that. Australians deserve nothing less.
“That is why ASFA, as the peak body for the sector, has been working to create a holistic, tech-enabled, secure mitigation and response framework for cyber and financial crime. The Superannuation Financial and Cyber Crime Cooperation Framework – SC3 to its friends.
“This work represents the most ambitious uplift we have seen. I know that, as funds and service providers, you have managed an enormous amount of work internally on your systems and processes. The lessons we learnt from April – clearly articulated by CEOs and leaders across the sector – are lessons of collaboration.
“So the industry framework to be developed takes all your good work and elevates it through a sector-specific playbook intersecting with that of the National Office of Cyber Security, a shared technical solution for intelligence sharing, sector-wide incident response exercises, and the formalisation of forums that are already doing such great work building networks.
“This work is deeply technical, it is complex, and it is vitally important. ASFA is undertaking it because we are a collaborative sector and our collaboration efforts in April were not up to scratch.
“Best practice internationally, and from other sectors, tells us that secure threat-intelligence sharing, collaborative playbooks, rehearsing and working together are the best response to ever-evolving threats. I look forward to speaking with more of you in these next two days and beyond, and explaining SC3 and our approach. Together we can ensure the safety that our members expect.
“Safeguarding super also means stopping those who don’t have members’ best interests at heart from feeding inappropriately on savings built from hard work. Choice and mobility are an amazing and unique part of the Australian super system – they’ve made us sharper and more focused on member outcomes. But choice only works if people are informed.
“That means protecting those who want to engage from high-pressure sales tactics and giving them access to trusted, transparent options.
“For a long time now, we have prioritised the speed at which we process transactions. We have the opportunity – and the obligation – to prioritise safety. So let’s have a whole-of-sector discussion about the friction we need to introduce into these speedy transactions to keep saving safe.
“And let’s consider how we build an army of people ready to help and guide Australians as they seek to engage in their future, so they are getting trusted and appropriate help when they look for it.
“When we talk about security in retirement, we all know that starts well before retirement itself. This month, we celebrate a major step forward with the enshrining of Payday Super into Australian law.
“It has been a long time coming, and I want to take a moment to acknowledge the incredible effort across this room – from funds and administrators to payroll providers and regulators – that is bringing this reform to life.
“ASFA has played a unique role here. The depth and breadth of our membership across every corner of the super system means we have been able to connect the dots between regulation, policy intent and implementation reality.
“Yesterday, I was very proud to see that approach come to life with the launch of the ASFA Payday Super Hub – a resource to support trustees, funds and service providers in our sector to confidently navigate the transition to 1 July 2026 and access guidance, technical material and implementation resources.
“It reflects what ASFA does best: translating complex technical reform into practical tools and guidance to enable sector-wide readiness.
“If there is a thread running through all of this, it is collaboration. Everything we have achieved this year has been possible because this sector understands that no single fund or organisation can do it alone.
“We see it now in the sector’s response to Payday Super. And we will see it again as we turn our focus to the next frontier of advice, member engagement and digital transformation.
“ASFA’s role is to be both a convenor and a catalyst, creating the space where industry expertise meets regulatory intent and turning that into tangible progress.
“Our work is, in many ways, illustrative of what makes this sector so remarkable: technical expertise, yes, but also an enduring sense of shared purpose.
“So as we open this year’s conference, I want to leave you with a simple thought. The work we do is about more than systems and structures. It is about people.
“Every policy you shape, every process you strengthen, every member you protect – it all comes back to the promise of security in retirement. The security of knowing that a lifetime of effort will be rewarded with dignity. The security of knowing that a system designed for all Australians continues to deliver for all Australians. And the security of knowing that this sector – your sector – remains one of the most trusted, resilient and the envy of the world.
“Over the next two days, you will hear from extraordinary leaders from across finance, technology, policy and beyond, each contributing to our collective understanding of what security in retirement means in practice.
“And with that, it is my pleasure to introduce someone who embodies that same commitment to confidence and long-term value for Australians. Please join me in welcoming Wendy Mak, Chief Marketing Officer at MUFG, our opening sponsor, to say a few words.
“Thank you, and welcome to the ASFA Conference.”
For further information, please contact:
ASFA media team
0451 949 300
mediaunit@superannuation.asn.au
About the Association of Superannuation Funds of Australia (ASFA)
ASFA, the voice of super, has been operating since 1962 and is the peak policy, research and advocacy body for Australia’s superannuation industry. ASFA represents the APRA regulated superannuation industry with over 100 organisations as members from corporate, industry, retail and public sector funds, and service providers. We develop policy positions through collaboration with our diverse membership base and use our deep technical expertise and research capabilities to assist in advancing outcomes for Australians.
We unite the superannuation community, supporting our members with research, advocacy, education and collaboration to help Australians enjoy a dignified retirement. We promote effective practice and advocate for efficiency, sustainability and trust in our world-class retirement income system.
