This paper summarizes views on the superannuation system and its regulation collected through interviews of fund executives. While the majority of interviewees saw the superannuation system as working relatively well, some areas of concern were detected. Issues raised relate to: certain aspects of the system that hinder alignment with member needs; calls for increased attention on the retirement phase by both the industry and within the regulations; the burden of regulatory change; shortcomings in the reporting and disclosure regime; and the dangers of primarily focusing on fees and costs rather than on net returns. Mixed feedback was received on the new prudential standards, and the question of fund scale. The regulator was perceived favorably by the majority of those who commented.