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The History of Super in Australia

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Published 3 Oct 2023
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Updated 4 Apr 2024
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4min read
image of two people looking at the history of super

image of person holding an old nokia phone

Early 2020’s: I just want it now, and easy, and effortless, and I shouldn’t have to ask..ARGHHH!

My private car meets me downstairs 2 minutes after I order it, order pizza en route that arrives at home the same time I do, and throw in a milk and bread request to that same pizza delivery. All this, while booking a family flight to the Gold Coast, soundtracked to my personalised Spotify playlist. The ease? Unparalleled. The expectations? Sky-high.

How to meet sky-high expectations

In an era where every service is practically on-demand, super funds have the golden opportunity to engage members right where they are. It’s not just about ’embedded’ experiences — it’s about weaving into the tapestry of daily life, offering solutions even before they’re sought.

Something as basic as updating your address should be a breeze. Imagine this: you update your address with your employer in a few taps on an app, and before your screen dims, you get a pop up “want to let your bank, insurer and super fund know?”

As pizza delivery evolves into a multi-tasking marvel, isn’t it time super funds delivered a slice of that convenience, too? Welcome to a world where members aren’t just engaged; they’re embedded in the experience. And this is just the start.

Embedded Super

Embedded super – a subset of embedded finance – holds the key to remarkable untapped potential.

It revolves around engaging members, on their terms, on platforms they are already using, in a way they understand. Or put simply, contextual engagement elevates superannuation from a background product to a prominent aspect of members’ lives.

About Employment Hero

Employment Hero manages the employment of more than 1 million employees, roughly 15% of Australia’s private sector workforce and is forecast to continue growing exponentially.

Our mission is to make employment easier and more valuable, for everyone.

Employment Hero offers a suite of digital super services to help employees engage with and manage their super selection, all while making employment simpler and more automated for small-medium business owners.

If you’d like to learn more about Employment Hero embedded super, reach out to Ray and the partnerships team at embeddedsuper@employmenthero.com. 

Alternately, you can learn more about embedded super here or download our whitepaper.

Ray Jaramis
Partnerships Manager - Superannuation - Employment Hero
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