Lack of income stream drags local retirement system: ReportBY JAMIE WILLIAMSON | WEDNESDAY, 18 OCT 2023 12:47PMAustralia's retirement system has received a B+ grade in a study of nearly 50 nations, with the lack of a compulsory retirement income stream being what holds it back. Related News |
Editor's Choice
Value versus growth: Market expectations in 2024
In 2022, concerns about rising interest rates and the Russia-Ukraine war brought fundamentals back into focus, creating numerous opportunities for value investing to generate alpha. Then transitioning to the first half of 2023, that period saw significant performance for growth stocks. What's next?
Aware Super appoints general manager, strategy and transformation
The $175 billion superannuation fund has recruited from Deloitte for the newly created role.
Jinding funds management division spun off
The funds management division of Australian property group Jinding has launched as its own entity.
CFA Society Australia launches
CFA Society Australia has been launched following the amalgamation of three local CFA Societies.
Products
Featured Profile
Robert De Dominicis
CHIEF EXECUTIVE OFFICER
GBST HOLDINGS LIMITED
GBST HOLDINGS LIMITED
It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean writes.
What a croc! How on earth would taking away members freedom to choose how they deal with 'THEIR' own money in retirement possibly be a positive for our super system! This bs report smacks of massive conflicts of interest and should be tossed in the bin! Such a change would only benefit greedy product providers and authoritarian governments/bureaucrats bent on controlling every aspect of peoples lives who like to think it's their money and not the members! In the famous words of Daryl John Kerrigan "tell em to get stuffed!"
Superannuants have already voted on this by placing the vast majority of pension funds in products since forever that allow them maximum income and capital flexibility. If compulsory pension products are the 'best' way then the public would choose them more often now from the many providers that offer them already! If we want a great super system then choice has to remain at the core of it. I would rate compulsory systems at the very bottom of any 'Super Index!'