More clarity is needed on some key Cooper review recommendations, including the role of advice in superannuation, AMP Financial Services managing director Craig Meller said.

In particular, advice needs to be properly defined under the Cooper review's proposals, according to Meller.

"Advice in financial services is always bandied around but not well understood," Meller said at an Association of Superannuation Funds of Australia (ASFA) lunch yesterday in Sydney.

"The Cooper review has segmented MySuper into intra-fund advice and broader advice. However, it has defined the former and not the latter."

Meller said intra-fund does not need to meet the "know the customer obligations" inherent in a full advice regime.

"So if a member contacts a call centre wanting to know whether to put $10,000 into super or pay off their mortgage, the fund cannot provide them with advice as the scope [for providing such advice] goes beyond intra-fund advice," Meller said.

The potential for the wrong decision to be made is larger when a person's investable assets are greater, he said.

"While at AMP we support the principles [behind intra-fund advice], advice needs to be defined clearly so that it remains broadly appropriate in all circumstances," Meller said.

Meller said Cooper's recommendations for insurance in superannuation will also have to be carefully considered so that underinsurance is not exacerbated.

He also called for a review into superannuation in the award system ahead of the implementation of MySuper.

The role of MySuper needs to be considered in the industrial award system, as the current monopoly of some funds that are entrenched in the awards has little incentive to lower costs, according to Meller.

"The issue needs to be resolved before MySuper is implemented. Otherwise, MySuper won't live up to its promises for many Australians," he said.