The History of Super in Australia

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Partnerships

The History of Super in Australia

Ray Jaramis

Published

Oct 3, 2023

Updated

May 19, 2025

6 mins read

Contents

works as our Partnership Manager at 91��, working closely with our superannuation partners. With a decade-long award-winning track record in financial services, he’s also armed with a degree in Applied Social Science. Ray is devoted to leveraging these insights to create digital tools that empower our users to take control of their financial lives. In this super series, he’ll be sharing all about this changing industry and what’s in store for Aussies. But first, he’s going back to the beginning and covering the history of super in Australia below.

I don’t know about you, but I’m pretty guilty of not seeing the forest from the trees. You know when you’re so in the detail on your job? Your focus gets more and more granular that it’s easy to lose grasp of the bigger picture – the forest.

I recently had the pleasure of co-authoring a deep dive into the super industry. It was an awesome opportunity to step back and reflect on the story of the super industry, while deep diving on where we think it’s going from here. Broadly speaking, there’s three distinct stages that have defined the industry, which I’ve summarised in this article. Take a read below.

1990s: The Super Guarantee is born, and it’s all about paper

Picture this – it’s the 90s where keys are left in unlocked cars, kids played in the street every day after school and the fashion of the day is something to be forgotten (thank god there wasn’t internet back then!)

Super was originally set up in the early 80s as an agreement with the government and trade union movement. By 1992, the Superannuation Guarantee (SG) system was introduced, making it mandatory for employers to contribute to the superannuation funds of their employees.

The internet was just taking off, making super a paper-based, manual process. And what about the engagement model back then?

Ah, the 90s! A time when super fund updates didn’t come through via a beep on your phone, but a thud on the doormat. Within the pile of snail mail you’ll find your annual report. Telephones buzzed not with pings of cat videos but with actual calls, and seminars were the “live streams” of the day. Leaflets were the original pop-up ads, scattered on every office desk and member surveys? They were handwritten, with the occasional coffee stain.

Ok, moving onto stage two…

Mid 2000s: Save the trees! Destroy your inbox!

Put on Channel V, grab your Nokia 3310, and pay $6.50 to get a customised ringtone (that crazy frog thing) with mums credit card. Super funds caught the digital wave, unveiling their first websites. No more pamphlets in your mailbox; now you could ignore financial advice in the comfort of your own home while waiting for pages to load! And as we all moved from dial-up to Wi-Fi, super funds made another leap: mobile apps. Yep, that same Nokia that once housed the legendary game of Snake became a conduit for something far less fun but far more adult — your financial future. The internet didn’t just change how we share cat videos; it revolutionised how we interact with our 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.

For insights into how super funds can engage members in their daily routines, read our blog here.

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?”

Ray Jaramis discusses how to streamline this process in our blog about the easier way to update superannuation details.

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.

For a deeper dive into this concept, download our

About 91��

91�� 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.

91�� 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.

Read more in our wrap-up of the 10th Australian Fintech Summit the key takeaways which highlighted the latest trends in superannuation.

If you’d like to learn more about 91�� Hero Super, reach out to Ray and the partnerships team at �𳾲��ܱ��𳾱��ǲ⳾��Գٳ��.��ǳ�.��

Alternately, you can learn more about Hero Super here or download our whitepaper.

The information provided on this page has been prepared by 91�� Pty Ltd (ABN 11 160 047 709) and its related bodies corporate (91��). The content provided on this page is only general information about 91��’s products and services, and is provided in good faith without taking into account your personal circumstances, financial situation or needs. Before acting on any information, you should consider whether it is appropriate for you and 91�� recommends that you seek independent financial, legal and taxation advice. Certain information given is based on data supplied by third parties. While such data is believed to be accurate, it has not been independently verified and no warranties are given that it is complete, accurate, up to date or fit for the purpose for which it is required. 91�� does not accept responsibility for any inaccuracy in such data and is not liable for any loss or damages arising either directly or indirectly as a result of reliance on, use of, or inability to use any information provided on this page.

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