Mr Sodhi received the award for his plan for the next generation of MySuper, which would determine a fund member’s needs based on a “holistic picture” of their finances, the FSC said in a statement.
“[Mr Sodhi’s] solution, Smarter Super, proposes meaningful improvements in retirement incomes using personalisation to overcome ‘present bias’, traditionally an impediment to member engagement,” the statement said.
The proposed model would see members have better access to their data, their own tailored asset allocation glidepath that will change with the members’ circumstances, and a graphic “on track” gauge to help members monitor their progress.
“Each of the proposals put forward by the finalists were of a very high calibre,” said FSC chief executive Sally Loane.
“Yash’s winning entry taps into the hot topics of retirement income and the dissemination of data through technology. It is a thought-provoking and viable solution to the challenges faced by retirement product manufacturers and their consumers.”
