All those charged with protecting and growing Australians' retirement savings – in both the choice and MySuper sectors - should be acutely aware of the great responsibility that comes with it. It is important to always look for ways to make the system more efficient and improve member outcomes, particularly when it comes to performance.

The Assistant Minister for Superannuation, Jane Hume, made this very point at last week’s Association of Superannuation Funds of Australia conference when she questioned why we weren’t seeing more mergers between funds, suggesting that trustees of some funds may be blocking progress.