ISWG Overview

ISWG Overview


The Insurance in Superannuation Working Group (ISWG) is comprised of Australia’s superannuation bodies and was formed in November 2016 to collaboratively enhance future iterations of policy development. While the current policy settings are fundamentally right, there is industry acknowledgment that changes need to be made to improve the experiences of superannuation fund member.

Members of the ISWG include the Australian Institute of Superannuation Trustees (AIST), the Association of Superannuation Funds of Australia (ASFA), the Financial Services Council (FSC), Industry Funds Forum (IFF) and Industry Super Australia (ISA).

Together, the ISWG believe that:

The objective of insurance in superannuation is to provide a measure of financial support to members and their families if the member is prevented from working to retirement age by death or ill-health.

The ISWG also believe that this objective has to be balanced with the broader purpose of superannuation being the provision of retirement benefits for those that do have a full working life, recognising that insurance premiums will erode those sums to some extent. 

The challenge for superannuation funds is managing these competing objectives and making sure that the balance between meeting needs and affordability is appropriately established and managed into the future.

Documents related to the ISWG are listed to the side. AIST members seeking further information can contact the AIST policy and research team at

Last updated 29 March 2018