The superannuation industry may be regulated by one single entity – the Australian Managed Fund Authority (AMFA) – by 2030, according to Challenger.

Speaking at the SMSF Association National Conference on the Gold Coast on Wednesday, Challenger chair for retirement income, Jeremy Cooper, told a panel that a new managed fund regulator could replace the Australian Prudential Regulation Authority (APRA).

The AMFA would take the non-taxation business from the Australian Taxation Office, and take managed funds away from the Australian Securities and Investments Commission (ASIC)

"You'll have a huge body of expertise around managing people's money," Cooper said.

“Most of the dollars in the super system is in managed fund land or self-managed super fund (SMSF) land and not in a separate super sector which is a very odd regulatory structure. It’s a big call to make and it will happen by 2030.

“That organisation will take APRA’s heatmaps and applies that to this sector so that it has sensible things to measure itself against, instead of comparing MySuper to SMSFs which is just completely wrong.”