Super funds:  Member insights are critical in building a sound retirement income strategy 


Just as buildings require strong foundations to stand the test of time, a sound Retirement Income Strategy requires rich member insights to shape and deliver good outcomes.

Insights that dig deep to reveal attitudes, understanding and concerns; And insights that identify well defined retirement needs and aspirations.

In the face of further regulations for superannuation funds to deliver more value to members, industry specific customer experience research remains critical to inform organisational strategy.

Retirement Income Covenant (RIC)
With draft legislation in September 2021 introducing a Retirement Income Covenant (RIC) outlining “a fundamental obligation of trustees to formulate, review regularly and give effect to a retirement income strategy”, it is critical that fund providers listen to the Voice of their members.

We know that member retirement income needs are a complex interaction between different factors including age, life stage, health and life expectancy, relationship status, savings and debt.

Therefore, funds must deepen what they know about their members to meet the needs of the RIC, by using new insights obtained from purpose-designed research; to enable funds to share these insights across business teams; to revisit current advice models, and review retirement product offerings.

Why qualitative CX research
The qualitative methodology provides a holistic view of what your members think and feel about retirement and retirement income.

In-depth interviews encapsulate rich insights that help funds clearly identify the income needs of the various member cohorts, at each of the key pre-retirement and in-retirement phases.

Highly experienced interviewers are skilled in drawing out key information that allow respondents to explore their understanding and confidence in their financial future for retirement.

Just as important, is the work behind the scenes to define project scope, recruit and screen the right cross-section of members and design a discussion framework that will deliver the highest-quality insights.

How we can help
Our CX research specialists in the superannuation sector will design a best-practice research program to uncover critical member insights and help you develop effective Retirement Income Strategies for your members.

• Explore sentiment, confidence and understanding of financial future for retirement
• Understand attitudes and behaviour around financial advice and education
• Explore understanding of retirement options
• Unpack concerns about living with retirement savings
• Identify the income needs of members cohorts
• Deliver research findings within 2 months of project kick off.

What you’ll be able to do
• Demonstrate in-depth member knowledge
• Validate assumptions or plans
• Evaluate product design
• Evaluate advice models
• Develop effective retirement income strategies

Who we are
CSBA are CX research experts. The RIC research program was purpose built by our specialist superannuation team to empower trustees to develop sound Retirement Income Strategies for members.

Contact us
Successful RIC planning starts with deep member insights. Are you ready? We can help.


Sam Monteath | CSBA Director CX of Finance

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