ASIC takes aim at super, private markets

ASIC commissioner Simone Constant says that three years into the Retirement Income Covenant, things are "not where we'd hoped to be".

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Speaking at a FINSIA event, Constant said there is still room to improve the ways super trustees serve their members in retirement.

"A recent pulse check with APRA found that one in five trustees can't track the success of their assistance to members in balancing the objectives of the covenant," she said.

Constant said the regulator is preparing to complete a review of member communications targeting retirement, which will be ASIC's first standalone thematic review since the implementation of the covenant.

"We'll use the findings of this review, as well as insights from the latest covenant 'pulse check' with APRA to inform further work in this area," Constant said.