Welcome to TAL News & Views

Welcome to the July edition of our newsletter.

In this edition, we speak with Mine Super Chief Strategy Officer, Tristan Reis-Freeman. We also hear from newly appointed TAL General Manager Group Claims, Chantelle Everett as she shares her perspective on the member claims experience. Finally, we talk with TAL’s Recovery and Support leader Roger Clark and find out how a person-centred approach helps empower members on their road to recovery after a claim. 

Since our last newsletter, Rainmaker Benchmarking released a report which underscores the significant value for members in obtaining life insurance through superannuation. Their report indicates considerable savings which ranged from $92 for a 40-year-old member up to $450 for someone who’s 60 years old which is a welcome saving at any time, but particularly in our current economic climate.

And in regulatory and policy news, the Advice Reform Bill which is the first tranche of the Delivering Better Financial Outcomes legislation passed both houses of parliament prior to the break. Minister for Financial Services, Stephen Jones said the legislation clarifies that Australians can use their superannuation accounts to pay for personal financial advice about their superannuation from an independent financial adviser.

Welcome to Australian Food Super

We’re thrilled to welcome Australian Food Super (formerly AMIST) to the TAL partner community with the recent announcement of our new partnership. As an industry fund, Australian Food Super has a proud history of supporting members for more than 35 years and we’re looking forward to being able to welcome them to the TAL partner community.

CPS 230 critical operations defined

On 13 June, APRA released its final Prudential Practice Guide CPG 230 in response to consultation feedback from industry bodies. It provides greater clarity to avoid the creation of unintentional practical difficulties during implementation. With critical operations now defined in line with the CPS 230 timeline, we’re now focused on finalising our material service providers, and we've developed our methodology to determine impact tolerance levels for each critical operation which sets us up well to be ready by the implementation on 1 July 2025.

We’re here to support you, so if you have any questions that your internal Risk team are not across, please speak with your TAL Partnership Manager who can put you in touch with our Governance and Risk team.

Our new Melbourne home - 500 Bourke Street

It was great to catch up with many of our Melbourne-based partners at our new Bourke Street offices last month to enjoy some time together and see our new space. We’re looking forward to more opportunities for face-to-face collaboration now that we’re more centrally located.

500 Bourke Street partner welcome event

Supporting First Nations retirement outcomes

I know many of you have had NAIDOC celebrations in place over the past week and like us are working on developing or implementing a Reconciliation Action Plan. It was pleasing to see a recent ASFA report showing good progress on improving the retirement outcomes of First Nations peoples. We know there’s plenty of work to do but there is a good foundation in place for us to build on collectively.

Get in touch to learn more

Please speak with your Partnerships Manager if you’d like any more information about the topics discussed in this edition of TAL News & Views.