The 2028 Mandatory Service Standards will reshape superannuation. The conversation about services will shift from “Are we compliant?” to “How do we compare, and what outcomes are we delivering for members?” This distinction matters.
A superannuation fund may satisfy every mandated requirement for response times, complaints handling or transaction processing, yet still create service friction for members if its digital experience is difficult to navigate, its communications are unclear, or its processes require unnecessary effort.
Greater visibility is also likely to change stakeholder behaviour. Regulators may use comparative data to identify systemic weaknesses earlier. Boards may demand more frequent operational performance insights. Members, advisers and employers will begin to view service quality as a tangible indicator of a fund’s overall capability and governance maturity.
Dynamic benchmarking of understanding what “good” looks like as industry performance evolves will become increasingly important because the benchmark itself will not remain static. This will create a competitive edge within the industry that will challenge funds to do better.
In this changing environment, leading superannuation funds must treat the standards as a foundation for continuous service redesign rather than a fixed compliance target. The real opportunity is not merely to avoid breaches, but to build operational models that are simpler, more resilient and more responsive and prepared for member needs. Funds that can consistently translate regulatory obligations into intuitive member experiences will strengthen trust, reduce operational friction and improve retention in an increasingly competitive market.
Jimmy Mullen – Executive Manager, Consulting Services
IQ Group | October 2026
