AusFood Super looks to revitalise member engagement

The $3.5 billion super fund has partnered with InvestStream to launch RetireSmart+, becoming the first super fund to bring an AI-powered engagement experience to some 66,000 members.

Australian Food Super will be the first fund to implement InvestStream's technology ahead of a pipeline of other funds still in development, InvestStream said.

RetireSmart+ combines retirement modelling with a conversational experience to help members better understand their decisions. Members can access information about projected balance, salary sacrifice perks, and more, instead of navigating multiple calculators and technical assumptions.

The tool does not rely on generative AI, instead, all projections and scenario modelling are handled by InvestStream's proprietary calculation engines, with the conversational AI layer used solely to translate those outcomes into clear, plain-language explanations, it said.

RetireSmart+ will launch through an exclusive early access programme, with selected members to experience it first ahead of a wider member rollout.

Commenting, Australian Food Super chief executive Michael Sykes said the decision to introduce the AI tool reflected a belief that innovation in the super sector must be earned through governance, transparency, and improved outcomes.

"Our members have told us that they want clear, practical support when making decisions about their future. This wasn't about adopting the latest technology for its own sake. It was about finding a better way to help members build confidence, and to understand and manage their super," Sykes said.

"Success won't be measured by how many digital tools we offer, it will be measured by whether members actually understand their superannuation and feel more confident making decisions. That's what RetireSmart+ is designed to achieve.

"As trustees, we have both the opportunity and responsibility to explore innovations that can improve the member experience at scale while maintaining the standards of governance, transparency and accountability our members expect."

The super fund believes the partnership positions itself at the forefront of a "new era" in member engagement, helping define the next generation of how funds support member understanding while maintaining strong governance and regulatory integrity at a time where Australians are expected to ramp up engagement with financial services.

"We needed to address questions about AI, risk, and member impact, and ensure there were appropriate guardrails and controls in a highly regulated environment," Sykes continued.

"What gave us confidence was understanding how RetireSmart+ works beneath the surface. The sophisticated modelling and calculations that underpin retirement planning have always existed, but for many members they've remained difficult to engage with, leaving valuable retirement insights out of reach for the people who stand to benefit from them most."

"RetireSmart+ doesn't replace traditional calculators and modelling - it unlocks them. The conversational experience helps members ask questions naturally, and explore scenarios at their own pace and in their own time, to build greater confidence and better understand the opportunities available to improve their retirement outcomes. That distinction is fundamental."

Meanwhile, InvestStream founder and chief executive Jason Hoang added: "Every meaningful shift in this industry starts with a fund willing to lead."

"For years, superannuation has invested in sophisticated retirement modelling, yet many members have struggled to engage with it. The next chapter isn't about building more calculators - it's about making that capability accessible through natural conversation while preserving the governance, controls and modelling integrity trustees require."