Default pensions 'very logical' solution: BrogdenBY JAMES FERNYHOUGH | THURSDAY, 31 JUL 2014 12:10PMA MySuper-style default retirement product could be "a very logical" way to encourage retirees to take income streams rather than lump sums, according to Financial Services Council (FSC) chief executive John Brogden. Related News |
Editor's Choice
REI Super chief executive steps down
REI Super is farewelling its chief executive Jarrod Coysh, after more than seven years in the role.
Former Brighter Super investment lead plots return
After a six-month hiatus, former Brighter Super chief investment officer Mark Rider is returning to the superannuation industry, set to join another super fund next month.
CGT, negative gearing changes to become a law
The government's tax agenda announced in the Budget overhauling the capital gains tax (CGT) discount and negative gearing have now passed the Parliament and will become law.
BUSSQ beefs up cyber security oversight
The Queensland industry fund has welcomed a cyber security expert to its board of trustees, bolstering its oversight on heightened cyber security risk.
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Judith Fiander
CHIEF EXECUTIVE OFFICER
AUSTRALIAN PHILANTHROPIC SERVICES
AUSTRALIAN PHILANTHROPIC SERVICES
When Judith Fiander first walked in the doors of Australian Philanthropic Services her intention was to volunteer for a few months. Fast forward 14 years and she is the chief executive. Eliza Bavin writes.
The Financial Services Council is essentially the big end of town, and John Brogden as the CEO proposing that we have a default allocated pension of some description, simply is a cost measure by the large suppliers of product, to gain obviate the advice process that is essential for Australians to have stopped
It will be interesting for the government and opposition to support such a default process when they have just spent the last six months throwing rocks and bricks of each other over the whole issue of advice. Brogden seems to think advice even the smaller retirees is a waste of time.
An interesting proposition coming from the larger part of the product benefactor in group that control The Financial Services Council.
Just a complete nonsense of an idea.