Updated: 27 October 2026, 6:24 a.m. AEDT Reserve Bank assistant governor Brad Jones warned on Monday, 26 October, that rising retirement withdrawals and growing liquidity demands would make it harder for Australia’s superannuation sector to cushion future financial shocks. Speaking at the AFR Super and Wealth Summit in Melbourne, Jones said the sector had historically helped stabilise markets, including by buying Australian shares during the 2008 and 2020 crises. Recent stress testing by the RBA and APRA suggested funds were generally well placed to withstand substantial stress, according to the RBA’s published transcript . However, he said weekly net inflows of $1 billion to $2 billion had provided an important buffer. As more members draw down retirement savings, more funds will face net cash outflows, while foreign-exchange hedging will require more liquidity. Jones also highlighted concentrated service providers and the risk of an operational disruption occurring alongside financia...