Frontier calls out structural super fund flawsBY ANDREW MCKEAN | MONDAY, 30 OCT 2023 12:49PMFrontier Advisors contends that superannuation fund designs inadvertently minimise retirees' income, contravening funds' obligation to provide the best possible outcomes for their members.
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Inertia is not a structural problem. In Canada most pension plans ( we call them super funds) offer lifetime incomes which offset longevity risk. Australians generally don't understand this risk - which is the greatest risk post- retirement.
Australian super funds can and do now offer lifetime pensions. These are Account Based Pensions which also offset longevity risk