Jeremy Cooper: Rethinking retirementBY JAMES FERNYHOUGH | THURSDAY, 29 MAY 2014 11:30AMChallenger's Jeremy Cooper talks to FS Super associate editor James Fernyhough about retirement income, challenging some widely-held beliefs about the drawdown phase of superannuation. Related News |
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Brian Redican
CHIEF ECONOMIST
NEW SOUTH WALES TREASURY CORPORATION
NEW SOUTH WALES TREASURY CORPORATION
What makes an economist an economist? TCorp chief economist Brian Redican reflects on over three decades of navigating Australia's economic cycles. Riddhima Talwani writes.
Great thinking, but oh so late. We have always had an accumulation system in Australia. Some other countries (no need to mention names as it may cause comments of "We are in Australia now", talked only of income at retirement.
Accumulation systems get raided at retirement which defeats the purpose of having superannuation.
What we need to do is to organise proper income funds that will last for the rest of life. This was talked about some 40 to 45 years ago, but the government never wanted to move on it.
Will they now?