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Welcome to the July edition of our newsletter.
Insignia Financial announces retirement partnership with TAL
You may have seen the recent announcement that MLC, part of Insignia Financial, has partnered with TAL and Challenger to launch a Centre of Excellence for its new MLC Retirement Boost product. MLC Retirement Boost is an innovative retirement income solution designed to give members greater flexibility and confidence in retirement, with the lifetime income insured by TAL. We’re excited by this opportunity to deliver an innovative lifetime income solution to the market, supported by smart digital tools, to support the growing numbers of Australians entering retirement in the years ahead.
Minister Mulino shares insights on financial services reform
On 17 June in Melbourne, TAL hosted the Financial Services Minister and Assistant Treasurer, The Hon. Dr Daniel Mulino, for a discussion with our partners and broader industry stakeholders. Minister Mulino provided an update on the federal government’s financial services priorities, including the Delivering Better Financial Outcomes (DBFO) advice reform program and upcoming payday superannuation legislation. He also participated in a robust Q&A session, where he shared the government’s thinking behind the proposed Division 296 tax changes. As progress continues on these important reforms, we look forward to ongoing engagement with Minister Mulino.
Welcoming Virgin Money Super
We’re pleased to welcome Virgin Money Super to the TAL partner community following the recent transition of their group insurance mandate. As part of the Mercer Super Trust, Virgin Money Super supports around 127,000 members. With increased maximum cover amounts and a commitment to stable premiums through to mid-2028, we look forward to delivering valuable insurance cover to Virgin Money Super members that meets their evolving needs. We know that flexible lifetime income solutions, supported by smart digital tools and clear retirement guidance, are key to helping members feel more confident and financially secure in retirement.
CPS230 goes live
1 July 2025 marked a significant milestone for TAL and our partners—the commencement of APRA’s Prudential Standard CPS 230: Operational Risk Management.
CPS 230 represents a major uplift in how financial institutions are expected to manage operational risk and maintain resilience through disruption. This Standard plays a critical role in strengthening our ability to deliver on our promises to Partners and their members, even in times of uncertainty brought about by disruption. At TAL, our response to CPS 230 has been guided by our commitment to continuous improvement and our values-driven culture of doing the right thing.
We look forward to continuing to work with our partner community on embedding the Standard through our service contracts and assurance procedures.
Celebrating the industry’s female leaders
At the recent Women in Wealth Awards in Sydney, TAL’s General of Manager of Group Claims, Chantelle Everett, was recognised with the Life/Risk Insurance Professional of the Year Award. Digital Product Manager Kelly O’Brien was highly commended in the same category, while Samer Fouani, Head of Cyber and Technology Risk, was highly commended in the Tech Innovator of the Year category.
Our fund partners were also recognised on the night: Melinda Howes (AMP) was awarded Woman of the Year and Superannuation Professional of the Year, and Renee Davidson (Brighter Super) was highly commended in the Marketing/Communications Professional of the Year category.
I’d also like to congratulate TAL’s Head of Financial Health, Jo Hetherington, who was recently honoured with ALUCA’s Life Membership Award for her contributions to the life insurance sector.
Expanding access to protection beyond traditional channels
TAL has partnered with Cover Genius to launch backd, a new digital life and income protection product aimed at Australians who often sit outside the reach of default superannuation cover. Many younger, casual, and contract workers don’t have easy access to affordable insurance, and backd has been designed with their needs in mind. Offered through payroll systems, it’s a simple way for employers to support their workforce with meaningful protection. It also reflects TAL’s ongoing focus on finding practical solutions for reducing underinsurance in the community.
New perspectives on retirement income
At two recent industry forums, TAL’s Jenny Oliver and Shaun Bransdon shared fresh insights into the behavioural and psychological drivers influencing how Australians approach retirement income. From reframing annuities as tools for reliable monthly income to simplifying decision-making pathways and applying empathy-led guidance, their sessions highlighted the need to better align product design and communication with real member needs.
See how we’re reshaping the retirement conversation
Meet our partners: Daniel Musson, Chief Experience Officer, Australian Food Super
This month, we speak with Daniel Musson, Chief Experience Officer at Australian Food Super, about the fund’s mission to support Australia’s food production workers, many of whom are migrants in rural and regional areas. Daniel shares how their partnership with TAL is helping to simplify insurance, build trust and harness technology to better support members.
Expanding our Claims Support and Empowering Recovery services
As part of TAL’s Health for Life approach, we’ve expanded our Claims Support and Empowering Recovery services with a suite of new evidence-based programs. These include targeted support for women’s health, ADHD and neurodiversity, and social work services for vulnerable members. These services reflect the complex realities many members face and are now available to eligible claimants.
See how we’re supporting recovery
Supporting reconciliation through learning and action
As part of TAL’s ongoing commitment to First Nations reconciliation, we’ve launched a new Insurance Academy masterclass for fund partners, developed in collaboration with Stonecrab. The module explores shared histories, cultural awareness, and the role we can all play in driving positive change. TAL also supports on-the-ground initiatives like the NASCA volunteering program, which gives employees the opportunity to volunteer with young people in remote Northern Territory communities. TAL’s Colleen Norris recently took part and described it as one of the most meaningful experiences of her career.
Discover how TAL is supporting reconciliation