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Showing 41 - 50 of 105 results for "Retirement Income Review"

Retirement income failing Aboriginal, Torres Strait Islander people

ELIZABETH MCARTHUR  |  FRIDAY, 20 NOV 2020
... 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 and Torres Strait ...

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
... 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 income ...

New approach needed for Age Pension: RIR

ANNABELLE DICKSON  |  FRIDAY, 20 NOV 2020
... living but a new approach is required to ensure retirees that rent reach this goal. The long-awaited Retirement Income Review (RIR) acknowledges the Age Pension as providing a safety net for those who do not have the means to create their own minimum ...

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 ...

Household capital remains key: RIR

ELIZA BAVIN  |  FRIDAY, 20 NOV 2020
The Retirement Income Review (RIR) has found home ownership is an important element in an adequate retirement, but not at the expense of all other income generating options. The potential fourth pillar of the Australian retirement income system, accessing ...