Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 441 - 450 of 1378 results for "Retirement Income"

Retirement income failing Aboriginal, Torres Strait Islander people

ELIZABETH MCARTHUR  |  FRIDAY, 20 NOV 2020
Creating equitable retirement outcomes in Australian society should be an objective of the retirement income system, but the Retirement Income Review raised concerns about some falling through the gaps. In 2018, the median super balance for Aboriginal ...

Labor, unions, industry funds seethe

ELIZABETH MCARTHUR  |  FRIDAY, 20 NOV 2020
The opposition party, Industry Super Australia (ISA) and unions have criticised the Retirement Income Review and say the super guarantee (SG) must rise. Labor leader Anthony Albanese said the government is looking for excuses to break its promises. ...

Imbalance in generational retirement income: RIR

ANNABELLE DICKSON  |  FRIDAY, 20 NOV 2020
... retirement but the burden on younger generations to fund the Age Pension should not become unsustainable, the Retirement Income Review has stated. The review noted the Age Pension is funded by working Australians which in turn creates a "generational ...

Super tax structure less progressive: RIR

ELIZA BAVIN  |  FRIDAY, 20 NOV 2020
The Retirement Income Review has labelled the superannuation taxation system as "flat" and less progressive than the individual income tax system. The review noted that most people pay less tax when they chose to save through their superannuation compared ...

SG rise no real benefit to women: Review

JAMIE WILLIAMSON  |  FRIDAY, 20 NOV 2020
While not making explicit recommendations, the Retirement Income Review has warned against increasing inequities already in the system, citing that a rise in the super guarantee would benefit men more than women. The review has stated that consideration ...

Give the people advisers: Retirement Income Review

ELIZABETH MCARTHUR  |  FRIDAY, 20 NOV 2020
... flaws in Australia's financial advice sector the industry has faced a crackdown from regulators, but now the Retirement Income Review has called for greater access to financial advice. One of the key observations of the report was: "The retirement ...

New approach needed for Age Pension: RIR

ANNABELLE DICKSON  |  FRIDAY, 20 NOV 2020
The Age Pension is a vital pillar of the retirement income system and provides most Australians with a minimum standard of living but a new approach is required to ensure retirees that rent reach this goal. The long-awaited Retirement Income Review ...

SG verdict: Choose your own adventure

KANIKA SOOD  |  FRIDAY, 20 NOV 2020
In a catch 22, the final report says keeping SG at 9.5% will shrink Australian's final retirement balances by 12-18%, but increase working-life income by 2%. Australians will retire with 12% to 18% thinner final balances if the government sticks ...

Fifth pillar in retirement system considered

ELIZA BAVIN  |  FRIDAY, 20 NOV 2020
The Retirement Income Review (RIR) has discussed the possibility of a fifth pillar in Australia's retirement income system based on a suggestion from the World Bank in 2008. The review noted that currently Australia has three pillars: the Age Pension ...

Homeowners given preferential treatment: RIR

ELIZA BAVIN  |  FRIDAY, 20 NOV 2020
The Retirement Income Review found the treatment of housing in the Age Pension assets test provides more support to homeowners compared to non-home owners. The review found the preferential treatment given to home ownership leads to inequities in the ...