“The association sees the adoption of sound tax policies that underpin the sustainability of our superannuation system, and implementing measures that will improve access to affordable, quality financial advice, as key policy priorities for our members.”

He added the SMSFA is confident the government appreciates the importance of the SMSF sector to the economy as investors and, in many cases, as self-reliant retirees and is looking forward to working with the newly appointed minister to ensure the ongoing viability of the SMSF sector.

Xavier O’Halloran, CEO of Super Consumers Australia, echoed the sentiments and said SCA is hoping for practical consumer focussed reforms to improve superannuation.

He said as the superannuation system matures it faces new challenges that it needs to be better prepared to meet.

“Millions of Australians rely on super to fund their retirement, but the system is still playing catch up to consumer expectations,” O’Halloran said.

“Dr Mulino has an opportunity to be a great reformer of the system. There remain big opportunities to make super fairer, more transparent, and focused on serving people.”

SCA outlined a reform agenda that targets three core challenges including improving service standards so Australians are not prevented from accessing their super by poor communication or delays, including mandatory service benchmarks and a pilot Super Law service to help people navigate complex disputes.

It is also urging the new minister to empower people in retirement by expanding product performance testing, boosting transparency, and simplifying the government’s retirement guidance services and to fix insurance in super by launching a Productivity Commission review to assess gaps, overlaps and harmful practices that are leaving people without protection.

“This portfolio carries enormous potential. We’re looking forward to working with Dr Mulino to fix what’s not working, keep what is, and ensure the super system puts people’s needs at its heart,” O’Halloran said.

Sarah Abood, CEO of the FAAA, said, Mulino has a strong background in finance and economics, and the association welcomes the opportunity to work with him on issues such as the Delivering Better Financial Outcomes reforms, and fixing the Compensation Scheme of Last Resort.

“It is critical that we build a healthy and sustainable financial advice community in Australia to help more Australians achieve financial wellbeing and security,” Abood said.

Mary Delahunty, CEO of ASFA, said it, too, is ready to work closely with the incoming government to secure the delivery of the key reforms it outlined as priorities before the election, including improving retirement outcomes through quality advice.

“We know a nation of people who are well-informed about their retirement and have options to get guidance on areas they are unsure of will empower individuals and lead to better outcomes,” Delahunty said.

Additionally, ASFA is asking the government to focus on implementing Payday Super by 1 July 2026 and work with the superannuation sector to tackle financial abuse.

“Superannuation is working well and Australians know it – they’re seeing the outcomes of a successful system which is paying dividends for better retirement outcomes,” she said.

“Protecting people’s super, getting it paid on time, and giving people the guidance they need in retirement will take this world-leading system and make it even better,”

Chris Freeland AM, CEO of CPA Australia, said the association looks forward to continuing its relationship with Mulino, who served as chair of the House of Representatives standing committee on economics and as a member of the parliamentary joint committee on corporations and financial services in the previous term of the Albanese government.

“The best outcomes always flow from open and thorough consultation, the development of meaningful fit-for-purpose solutions and a desire to roll back unnecessary regulations that constrain business productivity and jobs growth,” Freeland said.

“Advisers and accounting professionals are critical to the implementation of the government’s reforms including Payday Super, not-for-profit reporting, AML/CTF obligations and standard-setting for financial and accounting standards.

“The accounting profession is well equipped to provide its expertise to discussions on a wide range of critical topics including tax reform and tax administration, deregulation, retirement savings and financial advice, incentives for business, especially SMEs, and sustainability reporting.”