Australian superannuation funds are increasingly turning to digital advice tools to bridge the longstanding gap between members needs and access to affordable financial guidance, according to executives at wealth technology Bravura Solutions.

A former APRA deputy chair has launched CipherIQ, a new venture that provides retirement solutions via account-based pensions in partnership with superannuation funds, financial advisers and retirees.

Two years since ASIC cracked the whip on superannuation funds to improve death benefit claims handling practices, a follow-up review found very little to no improvements have been made.

The corporate regulator said it promises to take a "balanced" approach to enforcing new rules around any advertising of superannuation funds during the employee onboarding process, which take effect in a few weeks.