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Showing 1 - 10 of 12 results for "RIR"

APRA hones in on post-retirement products

KARREN VERGARA  |  TUESDAY, 23 NOV 2021
... Superannuation is intended to fund living standards of retirees, not to accumulate wealth to pass to future generations," the RIR report read. By 2059, the review estimated that about $130 billion in superannuation death benefits will be paid out - a ...

ASFA calls for super fairness

ANNABELLE DICKSON  |  WEDNESDAY, 10 FEB 2021
... million to balance the system. In its pre-budget submission, ASFA focused its recommendations on the Retirement Income Review (RIR) and noted that while the superannuation is system is well-designed it has concerns about the fairness of the system. ASFA ...

Household capital a retirement solution: Research

ANNABELLE DICKSON  |  MONDAY, 14 DEC 2020
... retirement, with a further 42% undecided on what to do with the home. RMIT echoed the sentiment of the Retirement Income Review (RIR) which found household capital and home ownership as an important fourth pillar. RMIT suggests the fourth pillar should ...

RIR reveals bleak financial upside for disabled people

ELIZABETH MCARTHUR  |  THURSDAY, 3 DEC 2020
The Retirement Income Review has revealed disabled people are less likely to be in financial stress and poverty when retiring on the age pension alone than in their working lives - demonstrating the struggle a lot of disabled people have making ends ...

Imbalance in generational retirement income: RIR

ANNABELLE DICKSON  |  FRIDAY, 20 NOV 2020
... successive generation will contribute more during their working life to fund retirees' income than the previous generation," the RIR said. "Different generations have different opportunities to accumulate retirement savings and generate retirement incomes ...

Super tax structure less progressive: RIR

ELIZA BAVIN  |  FRIDAY, 20 NOV 2020
... advantage. Super earnings are taxed at 15% in the pre-retirement phase but are tax-free in the retirement phase. Essentially, the RIR found that those with higher annual incomes receive larger tax advantages on superannuation earnings. "Over their lifetime ...

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
... pensioners with high-value homes," it said. "Around 15% of retirees on the Age Pension own homes worth more than $1 million. The RIR noted that the larger free areas in the assets test for non-homeowners benefit only a small share of retirees who are ...

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 ...
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