Australia's super funds will be paying out massive amounts to the largest cohort of retirees the system has seen, and they need better technology to handle it.

The new listed investment company (LIC) will provide investors with a monthly income stream and capital growth with "less risk" once launched on the Australian Securities Exchange (ASX) on April 30.

BUSSQ has pulled the plug on its Federal Court appeal for a judicial review of APRA's additional licence conditions, caving to the regulator's edict.