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. Read more: David Knox, Mercer CFA Institute Global Pension Index, Age Pension, Retirement Income Covenant, Retirement Income Review Related News |
Editor's Choice
ASIC hits back at parliament: 'Simply not realistic'
The financial regulator has hit back at suggestions it isn't doing enough to deal with community complaints.
The risks and opportunities in advice: SIAA
This year's Stockbrokers and Investment Advisers Association (SIAA) Conference will take a deep dive into how major financial advice reforms will impact superannuation funds and how they are preparing to help Australians particularly retirees access advice.
AMP Advice partners with BlackRock and Lonsec
Through the partnership, AMP Advice will introduce a new category of tailored managed portfolio solutions.
Succession planning troubles family offices: J.P. Morgan
Global family offices remain deeply concerned about how to prepare the next generation to inherit a vast fortune as almost 30% do not have a structured approach to help them, a new study from J.P. Morgan reveals.
Products
Featured Profile
Fiona Mann
HEAD OF LISTED EQUITIES AND ESG
BRIGHTER SUPER
BRIGHTER SUPER
Brighter Super head of listed equities and ESG Fiona Mann was shaped by a childhood steeped in military-like discipline and global nomadism. 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!'