Super fund uses AI to improve retirement planning
Australian Food Super has become one of the first superannuation funds in Australia to introduce an artificial intelligence-powered retirement planning experience, unveiling a new member tool designed to make complex superannuation projections easier to understand.
Developed in partnership with financial technology firm InvestStream, the platform, known as RetireSmart+, allows members to explore retirement scenarios through a conversational interface instead of relying solely on traditional calculators. The technology will initially be offered to a select group of members before being rolled out more broadly.
This launch reflects a growing push across financial services to incorporate artificial intelligence into customer engagement, although Australian Food Super said the technology has been designed so AI explains retirement projections rather than generating them. All calculations and scenario modelling continue to be produced by InvestStream’s proprietary modelling engines, while the AI component translates those results into plain-language responses.
The tool enables members to ask questions about their retirement savings, including how additional contributions, salary sacrifice or delaying retirement could affect their projected balance, rather than working through multiple modelling tools independently. According to the companies, the conversational interface sits on top of existing retirement modelling instead of replacing it.
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RetireSmart+ arrives as the industry shifts from static data displays to interactive, responsive tools. While many funds have digitized their websites in recent years, few have prioritized a natural language interface that mimics a conversation rather than forcing the user to handle a menu of pre-set options. This approach attempts to bridge the gap between technical modelling capabilities and the average member’s comfort level with financial data.
Maintaining governance and regulatory safeguards had been central to the fund’s decision to deploy the technology.
“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. RetireSmart+ allows us to do exactly that.”
InvestStream chief executive and founder Jason Hoang said retirement modelling had become increasingly sophisticated over the years, but many members still struggled to engage with the information those systems produced.
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“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,” Hoang said.
“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. Australian Food Super recognised that opportunity early.”
The partnership will also build on Australian Food Super’s existing relationship with MUFG, which provides registry and administration services to the fund, as the organisations prepare for a wider rollout of the technology.
