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.

The platform, known as RetireSmart+, allows members to explore retirement scenarios through a conversational interface instead of relying solely on traditional calculators. Developed in partnership with financial technology firm InvestStream, the tool will initially be offered to a select group of members before being rolled out more broadly.

According to the companies, the conversational interface sits on top of existing retirement modelling instead of replacing it. 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.

Members can ask questions about their retirement savings, including how additional contributions, salary sacrifice or delaying retirement could affect their projected balance. This approach differs from manually working through multiple modelling tools independently, which often requires significant time and technical knowledge.

Governance and intent

Australian Food Super chief executive Michael Sykes said the fund’s objective was to improve members’ understanding of their super rather than introduce technology for its own sake. The fund would judge the platform by whether it helped members make more informed retirement decisions.

“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,” Sykes said. “That’s what RetireSmart+ is designed to achieve.”

Sykes said 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,” he added.

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. “Every meaningful shift in this industry starts with a fund willing to lead,” 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.”

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.