November super news

3 min read
3 min read

Cost of living pressures impacting young Australians’ mental health

Rest has released research which raises concerns that cost-of-living pressures and financial stress may cause many young Australians to disengage entirely from their financial future.
A survey commissioned by Rest about experiences and attitudes towards superannuation, has revealed nearly three quarters (73 per cent) of the fund’s young members who are experiencing financial stress say that it is negatively impacting their mental health.
The research also found:
• 70 per cent of young Rest members are worried about keeping up with cost of living pressures
• 55 per cent of young Rest members say they are struggling to achieve the financial outcomes they want now
• 51 per cent are already worried about having enough super to retire, despite being three or four decades away from retirement
• 50 per cent of young Rest members say they often feel stressed about meeting their day-to-day financial needs.

Rest CEO Vicki Doyle said: “The experience and needs of young people should not be forgotten when it comes to considering the future of superannuation in Australia.

“Super funds must be part of the solution here. Our research shows that, when they do engage with their superannuation, members can feel more confident about their future. Earlier and more regular engagement can lead to better retirement outcomes.”

Natixis Investment Managers expands its presence in Australia with retail licence

Natixis Investment Managers (Natixis IM) has announced it has expanded its Australian Financial Services Licence (AFSL) allowing it to promote to retail clients. With the expanded licence the leading global asset manager has the opportunity to bring the capabilities of its Expert Collective of more than 15 investment managers to Australian financial advisers and retail investors.

Natixis IM is ranked as the world’s 17th largest asset manager with more than US$1.2 trillion assets under management globally.

Country Head Australia and New Zealand for Natixis IM, Louise Watson, said the retail AFSL is an important milestone for Natixis IM in Australia.

AMP research shows retirement challenges for older Australians

Research by AMP shows that most older Australians find it challenging to navigate the retirement system and lack knowledge about fundamental aspects of managing their retirement finances.

For Australians aged 50 and over the research found:

▪ 3 in 4 find the retirement system complex

▪ 2 in 5 don’t know if they’ll be eligible for aged-pension benefits

▪ 7 in 10 don’t know what an account-based pension is

▪ 3 in 4 have not sought financial advice for retirement planning

▪ 3 in 5 wish they’d started planning for retirement earlier in life

▪ 3 in 5 are ‘extremely concerned’ about the rising cost of living

With more Australians living longer and spending more of their later years in full health, a large cohort are heading into retirement lacking the knowledge and confidence to navigate this important transition.

To help address the financial literacy gap in retirement, AMP and its North investment platform launched its Retire with Confidence Whitepaper, which takes a closer look at the growing maturity of Australia’s superannuation system and the challenges faced by Australians heading into retirement.

AMP Chief Executive, Alexis George, said: “This research shows the challenges faced by the growing number of Australians heading into retirement, a process they find complex and made harder by a lack of financial literacy.”

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Daniel Mulino MP

Assistant Treasurer and Minister for Financial Services

Sessions

Keynote 8 – Navigating the energy transition: opportunities, investor strategies and policy needs

Born in Brindisi, Italy, Daniel was a young child when he moved with his family to Australia. He grew up in Canberra and completed his first degrees – arts and law – at the ANU. He then completed a Master of Economics (University of Sydney) and a PhD in economics from Yale.

He lectured at Monash University, was an economic adviser in the Gillard government and was a Victorian MP from 2014 to 2018. As Parliamentary Secretary to the Treasurer of Victoria, Daniel helped deliver major infrastructure projects and developed innovative financing structures for community projects.

In 2018 he was preselected for the new federal seat of Fraser and became its first MP at the 2019 election, re-elected in 2022 and 2025. From 2022 to 2025, Daniel was chair of the House of Representatives’ Standing Economics Committee in which he chaired inquiries; economic dynamism, competition and business formation and insurers’ responses to 2022 major floods claims.

In 2025, he became the Assistant Treasurer and Minister for Financial Services.

In August 2022, Daniel published ‘Safety Net: The Future of Welfare in Australia’, which aims to explore the ways in which an insurance approach can improve the effectiveness of government service delivery.