Australians who actively engage with their superannuation and seek financial advice could significantly improve their retirement outcomes, according to new research commissioned by the Financial Services Council (FSC).

Two-thirds of Australian businesses expect Payday Super will require moderate to significant operational changes, despite widespread confidence in their ability to comply with the reforms due to take effect from 1 July 2026.

A new analysis from Vanguard Australia shows superannuation funds charging marginal fee increases can cost members $77,000 in retirement.

MySuper assets are fast catching up to the $1.5 trillion Choice sector, hitting nearly $1.2 trillion in the March quarter.