Steve Travis

Aware Super has received the rare Adviser-Ready Fund accreditation under the new national framework jointly developed by the Financial Advice Association Australia (FAAA) and Chant West.

This accreditation recognises the Fund’s investment in the systems and support which empower independent financial advisers to deliver better outcomes for their shared clients, who have almost doubled in number since June 2024.

Aware Super is one of only three profit-to-member funds to receive the accreditation, which assesses operational capability across 24 adviser-focused criteria developed with direct input from practising advisers.

Accreditation is awarded to funds meeting at least 16 criteria, covering: adviser access to client information; the ability to transact on behalf of clients; advice fee deduction processes; digital authorisations and dedicated adviser support.

Aware Super has led the industry in investing in a layered advice model that meets members at each stage of their financial life.

The Fund’s 1.2 million members can access:

• digital tools, calculators and education to support everyday decisions;
• personal advice when their circumstances become more complex; and
• retirement-focused advice and income solutions as they approach or enter retirement.

Where members work with an independent financial adviser, Aware Super’s adviser-ready systems and dedicated support are designed to make that relationship as productive as possible.

Significant enhancements to Aware Super’s Adviser Portal underpinned the Adviser-Ready accreditation, including:

• direct data feeds into Xplan
• online adviser registration and digital client authorities
• expanded transaction capability
• simplified advice fee deduction processes

With Aware Super also holding the Epic Retirement Institute’s Epic Retirement Tick, the double accreditation makes the Fund only one of two profit-to-member funds to hold both accreditations.

Aware Super Group Executive Member Growth Steve Travis said the recognition reflected the Fund’s ability to support members across the full advice journey, from early engagement through to retirement.

They also highlighted Aware Super’s tangible commitment to making it easier for advisers to do their best work.

“The Adviser Ready Fund accreditation recognises the practical investments we’ve made to support independent financial advisers – from improving digital access and transaction capability through to providing dedicated adviser support,” Mr Travis said.

“When combined with the Epic Retirement Tick, it reflects our focus on meeting members where they are in their advice journey, whether they’re looking for straightforward guidance or more comprehensive retirement advice, and supporting advisers to deliver that advice efficiently.”

Aware Super also provides advisers with access to a national Business Development Manager network and a specialist Adviser Engagement and Support team.

The Adviser-Ready Fund accreditation supports the shared objective of strengthening alignment between the superannuation and financial advice sectors, helping to improve access to professional advice and better retirement outcomes for Australians.

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Steve Travis

Aware Super’s industry-first digital retirement planning and management platform has led to a big uplift in retirees choosing more than the minimum pension, demonstrating its ability to boost members’ confidence in their retirement planning.

Retirement Manager^TM, which launched this month to all eligible Aware Super members 60 and over, helps answer the two most important questions for those in retirement or about to retire: how much can I spend and how long will my money last?

Results of Retirement Manager’s ^TM pilot phase of more than 5,000 members showed a 78 per cent increase in the relative number of members choosing more than the minimum pension when using it to build their plan.

54 per cent of retiring members typically choose to draw down more than the minimum pension, but this surged to 96 per cent when using Retirement Manager ^TM.

Group Executive Member Growth Steven Travis said the results from the pilot were powerful evidence that Retirement Manager ^TM was breaking down the barriers to effective retirement planning.

“This is a major breakthrough in retirement planning,” Mr Travis said. 

“Retirement Manager ^TM is giving members the control and confidence to draw a greater income and enjoy their retirement to the fullest.

“When members can build a plan in their own time, optimise it for different scenarios and get immediate feedback on the strength of their plan, it gives them greater confidence to draw down on their savings.”

Retirement Manager ^TM makes it easy to set up and implement a plan online, including choosing an investment option, modelling different income and spending decisions, and setting up an income stream. It can even estimate government Age Pension eligibility.

Retirement Manager ^TM gives users an Income Confidence Score that shows them how likely their plan will support their desired income and helps them adjust their plan to boost their score.

Also important is the integration of human help into the Retirement Manager ^TM experience, with users able to book an appointment with an adviser within the platform to discuss and further refine their plan if they need to.

Mr Travis noted that while Aware Super research found 9 out of 10 Australians were worried about running out of money in retirement, members were leaving up to 25% of their super unspent.

“Retirement Manager ^TM is not just for implementing a retirement plan, it’s like your always-on adviser throughout your retirement, helping you maximise your income and giving you peace of mind that you’re on the right track,” Mr Travis said.

“We believe it will help our members manage their money more effectively throughout their retirement.”

Retirement Manager ^TM builds on the success of My Retirement Planner ^TM, which has helped more than 165,000 Aware Super members in the accumulation phase model their retirement goals and devise an appropriate savings plan.

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Steve Travis

Aware Super has launched a sophisticated new digital advice solution that offers members control and confidence over their retirement planning.

Retirement Manager^TM, designed in conjunction with leading tech provider Bravura Solutions, helps answer the two most important questions for those in retirement or about to retire: how much can I spend and how long will my money last?

Retirement Manager helps retirees set up an income stream, choose an investment option and model different income and spending scenarios. It gives users an “Income confidence score” so they can see how their plan measures up to their goals.

The tool is smart enough to estimate Age Pension eligibility, include a spouse’s financial details and model how major decisions such as taking an overseas holiday or helping out children with a home deposit will impact retirement plans.

Aware Super members can book an advice appointment at no extra cost from within the tool to fine-tune their plan and discuss their options with an Aware Super retirement specialist.

Group Executive Member Growth Steve Travis said Retirement Manager was an industry first in retirement planning and digital advice.

“Retirement Manager takes the stress out of retirement planning, giving members the power and the flexibility to create a personalised plan that can be easily adjusted as their needs and circumstances change,” Mr Travis said.

“With many people heading into retirement without any plan at all, Retirement Manager dramatically lowers the degree of difficulty involved in getting started and, importantly, is integrated with human help for that additional level of personalised support.”

My Retirement Planner for members aged 60 and under

Retirement Manager builds on the success of My Retirement Planner, which has helped more than 130,000 Aware Super members in the accumulation phase model their retirement goals and devise an appropriate savings plan.

“These digital advice solutions reinforce Aware Super’s position as an industry leader in innovation and the use of technology to enhance member experience and retirement outcomes through scalable solutions,” Mr Travis said.

Retirement Manager is currently in pilot with a small group of members and is expected to open to all eligible members aged 60+ later this year.

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Steve Travis

Aware Super has launched a host of new digital features and enhancements to help financial advisers and their clients, including direct data feeds to Xplan and online authorisation of transactions.

The new functionality makes it easier and quicker for advisers to manage administration through Aware Super’s Adviser Portal, giving them more time to focus on helping their clients.

Group Executive Member Growth Steve Travis said Aware was excited to deliver these key enhancements to the Aware Super Adviser Portal, noting there had been a 24% increase in advisers registered with Aware Super over the past 12 months.

“This upgrade and enhancement of a key platform used by financial advisers demonstrates our commitment to offering a great digital experience across all our touchpoints and acknowledges the important role advisers play in helping Australians reach their retirement goals,” Mr Travis said.

“Aware Super understands that advisers deliver the greatest value when they’re engaging with their clients, rather than dealing with paperwork and administrative tasks, so we’re striving to make administration as simple, quick and easy as possible.”

The new features include:

• Data Feeds to Xplan: Advisers can now receive a direct data feed from Aware Super into their Xplan financial planning platform, making it easier to view and track client accounts
• Member In-App Approval: Clients can authorise transactions initiated by their adviser through the Aware Super app, providing convenience and flexibility
• Online Adviser Nomination: Registered advisers can initiate nomination requests via the Adviser Portal, which clients can approve online, eliminating the need for paperwork
• Online Adviser Registration: Advisers can now register online with Aware Super, making the registration process quicker and more straightforward.

The upgrade also enhances the Adviser Portal’s existing feature set including client dashboard access, investment option switching, management of client contributions and tracking of action requests, withdrawal benefit quotes, non-lapsing binding beneficiary nominations and viewing client Centrelink payment schedules.

“We’re continually updating and enhancing the Adviser Portal as we engage with advisers and welcome feedback on ways we can help them increase efficiency and productivity,” Mr Travis said.

“Registered advisers also benefit from support from our national team of Business Development Managers in relation to our products and services, as well as assistance from our dedicated Adviser Engagement and Support Team.”

The Adviser Portal is built on Aware Super’s industry leading digital platform, which has digitised around 95% of transactions and achieved straight-through processing for more than 80% of tasks.

Aware Super was the winner of this year’s Best Fund: Advice Services award from Chant West.

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From 1 June, Aware Super will reduce the annual administration fee for retirement income and retirement transition members from 0.23% to 0.17% of a member’s balance. It has also cut the maximum annual administration fee on a retirement account from $1,500 to $1,300.

This could cut the annual administration fee for a retired member by up to 25 per cent^[1] , or for the average Aware Super retiree member about $225 in the first year.^[2]

Aware Super members who open a Retirement Income account may also be eligible for a tax-free bonus of up to $12,350, added to their balance.^[3]

Aware Super’s retired members will now pay some of the most competitive fees in the market, and this reduction will further boost retirement outcomes, with the average member now paying $600 less per year in total fees (including investment fees) than the market average^[4.

Aware Super Group Executive Member Growth Steve Travis said the $190 billion profit-for-member fund was determined to keep fees low and deliver the benefits of the fund’s increasing size and efficiency gains to its members.

“Aware Super is dedicated to helping our members reach their retirement goals and keeping fees low is one of the key ways we can do that,” Mr Travis said.

“We’re now the third biggest superannuation fund in Australia and we invest $190 billion on behalf of our 1.2 million members. We want to share the benefit of our size and scale by passing fee reductions on to our members. In the first year alone, this cut will save our retired members a collective $18 million in fees.

“Projects such as our three-year digital transformation program, completed in 2023, are delivering real benefits for all our members, including lower costs, better services, more personalised advice and a stronger fund overall.”

Aware was last week crowned the 2025 Pension Fund of the Year by Chant West for the second year running.^[5]

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Notes:
[1] Amount of fee reduction will vary based on account balance.
[2] Based on the average balance of an Aware Super Retirement Income account member which is $375,000
[3] Eligibility criteria apply. The payment of the Retirement Bonus is at the discretion of Aware Super. We reserve the right to change or stop offering the Retirement Bonus at any time, without notice. The Retirement Bonus is calculated and applied at the time your Retirement Income account commences and may differ from any estimate you have previously obtained. If you withdraw 50% or more of your Retirement Income account starting balance within 12 months of opening the account, Aware Super reserves the right to deduct the Retirement Bonus from your Retirement Income account. Withdrawals include lump sum payments, rollovers, regular income payments, and one-off income payments.
[4] Savings is the difference between the (reduced) Aware Super Retirement Income Conservative Balanced option total fee at 1 June 2025; and the ‘Overall average’ total fee; as published in the Chant West Pension Fund Fee Survey March 2025: Balanced [41-60] Category based on a $250,000 balance. Fees may have changed since. Fees vary each year & include admin/investment fees and costs, & transaction costs. Fees differ for other investment options & account balances
[5] Visit aware.com.au/awards for awards information. Awards are only one factor to be considered when choosing a super fund.

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