Superannuation peak body ASFA welcomes the introduction of legislation into the Parliament to reform rules around super fund advertising and stapling during employee onboarding.
The changes were introduced into the House of Representatives today as part of the Treasury Laws Amendment (Supporting Choice in Superannuation and Other Measures) Bill 2025 and builds on landmark Payday Super reforms earlier in November.
ASFA CEO Mary Delahunty described the legislation as a series of “pro-member” reforms that build on the achievements of the Payday Super reforms.
“The approach in the Bill strikes a balance between maximising member choice, ensuring workers are presented with options, and knowing that they are in the best performing product for them, while continuing to ensure that the number of Australians with more than one super account continues to reduce.
“While sensible guardrails around advertising are essential to prevent the proliferation of duplicate accounts, advertising also has a legitimate role in a choice-based superannuation system. Increasing engagement with superannuation always pays off for people, and taking on a new job is a great time to prompt that conversation.
“Starting a new job is one of the few times many people pause and think about their super. We should use that moment to put clear, comparable information in front of them so they can see what’s out there and ensure they are in the best option for their age, stage, and individual needs,” Ms Delahunty said.
Legislation explained
The legislation will introduce a framework around when and how superannuation fund products can be advertised to employees during the onboarding process.
Where an onboarding platform chooses to advertise, it will be required to display an employee’s stapled fund where one exists. Products that can be advertised will be limited to the employee’s stapled fund, the employer’s default fund, and MySuper products that have passed the most recent annual performance test.
To be advertised during onboarding, a MySuper product must have passed the Annual Superannuation Performance Test. The person advertising the product must not be related to the fund offering the product. The person advertising the MySuper product must have requested an employee’s stapled fund and provided those details to the employee should they be available. Any advertisement must also be accompanied by “clear and unambiguous” disclosures.
The government has clarified that the ban does not apply to advertising undertaken in the ordinary course of business, only during the onboarding process.
Ms Delahunty welcomed the Minister’s recognition that “Australians deserve to make an informed choice about their superannuation fund when starting a new job” and will work with the government on the implementation of the legislation.
“Over time, we would like to see a consistent framework applied across all instances of employee onboarding. For now, this package is a practical step forward that delivers better information where the technology is ready, without over-engineering processes for employers who are not yet using these platforms,” she said.
Duplicate accounts
In his remarks to the House, Minister Mulino reiterated the government’s focus on ensuring a reduction in duplicate accounts. The number of super accounts has fallen from around 27.4 million in 2019 to about 24.8 million in 2025. The number of Australians who have a single superannuation account has increased from 74% in 2020 to 78% in 2024.
“We have made real inroads into cleaning up duplicate accounts. New reforms must continue this positive trend,” Ms Delahunty said.
“The combination of Payday Super, improved data and visibility for the ATO, and these revised onboarding settings is moving the system towards more timely payments and fewer unnecessary accounts.
“Overall, this is a measured package that supports choice, competition and performance, while reinforcing the system’s shift towards better, more consistent outcomes for members,” Ms Delahunty concluded.
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.