Interview
Education
Superannuation and Investments

Student Voices in Superannuation: Experiences from a PhD Candidate and an Actuarial Consultant

Headshot image of Herman Lee and Twané Wessels against a blue background.

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Ongoing evolution of the superannuation industry’s ecosystem continues to see actuaries being well placed to help shape the future of Australia’s retirement system and positively influence outcomes across generations.

The Actuaries Institute’s Superannuation and Retirement Applications (SRA) subject offers members the opportunity to explore both current and emerging roles for actuaries, covering topics such as:

  • the external operating environment
  • global longevity issues
  • the role of superannuation and retirement funds and;
  • how government regulations and policies have a significant impact on member outcomes and fund operations.

As a professional body, we are very excited to see more actuaries graduating from SRA, not just in volume, but also with diversity of background.

In this feature, two successful students from the SRA course share their experiences and perspectives on the subject. Let’s meet Herman Lee and Twané Wessels.

Herman Lee.

Herman Lee.

Herman Lee: Associate in the Actuarial Team at Mercer Consulting within the Investments business

I hold a Bachelor of Commerce (majoring in Actuarial Science) from the University of Melbourne.

I joined Mercer in 2021, and in my current role as an Actuarial Consultant, I work with clients across the superannuation industry to develop solutions and provide insights on a range of matters, with a key focus on product, strategy and retirement incomes.

I also support senior consultants in providing actuarial advice on long service leave and annual leave liabilities and defined benefit superannuation plans.

I’ve developed a deep experience in working with superannuation data, including leading the modelling and analysis for Mercer’s annual Shaping Super report. I have also co-authored several thought leadership papers on emerging issues in the sector.

What led you to study Superannuation and Retirement Applications (SRA) and how will it help you with your career?

As an actuary working in the superannuation industry, taking SRA felt like the natural choice for me.

While studying SRA, it often felt like an extension of my day job where I was either broadening my knowledge into different areas of super or going deeper into matters I was already familiar with.

For instance, previously I had specific pockets of knowledge from working in the risk management side of super, so SRA gave me a great introduction to APRA’s broader expectations as set out in SPS 220 Risk Management and what trustees are expected to cover in their Risk Management Frameworks.

As another example, I’ve had much more experience working with funds on their retirement income strategies, so SRA was able to add to my knowledge by working through the history of how the industry arrived at the Retirement Income Covenant and the various frameworks that were proposed and eventually put aside.

Overall, SRA did a great job of ‘filling in the gaps’ in my knowledge to give me a more holistic view of super and retirement systems.

I believe that SRA has already helped me -  and will continue to do so - by building my confidence in forming independent views on superannuation issues. I’m now better equipped to evaluate the perspectives of various stakeholders, draw on past discussions and ideas and ultimately, form my own position – whether it’s on a policy issues or developing a solution for my clients.

What was the most surprising thing you learnt during the SRA course?

The most surprising thing I learned during the SRA course was just how much the system’s tax and policy settings have evolved from the 1980s.

Amid all the current discussion around superannuation policy today, gaining that historical context was insightful and will provide a strong foundation for forming my views on future policy changes.

Twané Wessels.

Twané Wessels.

Twané Wessels: Assistant Professor (Actuarial Science) at Bond University

I qualified as a Fellow of the Actuarial Society of South Africa in 2012, after conquering the Finance and Investment Fellowship exam.

Fast forward to 2023 - my family and I packed up our lives in Cape Town, South Africa and made the sunny leap to the Gold Coast, where I joined Bond University.

 Just before the move, I wrapped up my MBA with the Stellenbosch Business School, an experience that deepened my appreciation for lifelong learning and the kind of growth-oriented and nurturing intellectual space that a university can foster.

Before stepping into academia, I spent 16 years immersed in the insurance industry. My journey began at Momentum Group Limited in 2007, where I wore several hats over a decade, from product management in investments and structured solutions to a stint as a Marketing Actuary.

In 2017, I joined Just Retirement Life (South Africa) as Product Actuary. There, I didn’t just crunch numbers, I also helped steer the Operations department and chaired the Management Committee. It was a dynamic role that blended technical expertise with leadership and strategy. Most importantly, it’s where I discovered my passion for retirement solutions, because helping people achieve a better, more secure later life is both a professional challenge and a deeply rewarding purpose.

What led you to study SRA and how will it help you with your career?

I’m currently pursuing a PhD at Bond University, with a research focus on superannuation and retirement.

As part of the PhD requirements, I needed to complete three coursework subjects. For one of them, I thought: why not go all in and make it count? The SRA Professional Certificate stood out as the perfect fit as not only does it offer unparalleled insight into the Australian retirement system, but it also directly supports my actuarial career here in Australia. It’s been a fantastic way to deepen my expertise while staying true to my commitment to lifelong learning and meaningful impact.

What was the most surprising thing you learnt during the SRA course?

The SRA course has been incredibly detailed and enriching. It gave me a much clearer understanding of the intricate rules and regulations that underpin Australia’s retirement system. The embedded Accurium training was particularly helpful in unpacking some of the more technical aspects, especially around taxation and self-managed super funds.

One of the most valuable parts of the course was gaining a structured view of how Australia’s superannuation system has evolved over time, something I had previously tried to piece together on my own. What really caught my attention was how different retirement systems can be from one country to another.

For example, in South Africa, the focus is on helping people stretch their savings because public support is limited. In Australia, though, the challenge is often the opposite, encouraging people to feel confident about using their savings so they can enjoy a better later life in retirement.

These insights have made me even more grateful for choosing the SRA course, it’s been instrumental in deepening my understanding and supporting my transition into the Australian actuarial landscape.

Ready to deepen your impact in superannuation?

Whether you're early in your career or stepping into a new professional chapter,  Superannuation and Retirement Applications (SRA) offers a unique opportunity to broaden your knowledge, sharpen your policy thinking, and build confidence in one of Australia’s most vital sectors. Visit actuaries.asn.au/learning/fellowship-program to learn more and check upcoming enrolment dates.

About the authors
Adam Barrow
Adam is the Product Actuary at UniSuper, and is a Fellow of the Institute of Actuaries of Australia (FIAA). He specialises in Defined Benefits, Insurance, and Retirement matters relating to Superannuation, and has a passion for member outcomes and improving the retirement experience for all. Adam is an active volunteer for the Actuaries Institute ) and was recently awarded a Young Volunteer Achievement Award for 2025. He currently holds membership on the Superannuation and Investment Practice Committee (SIPC), is the Chair of the Member Services Sub Committee (MSSC), is an SME for Superannuation on the Life Insurance and Retirement Education Faculty (LIREF), and is a part of the Actuaries Institute Ambassador Program. In his spare time, he tries to remain active and find a new quality cup of coffee.