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Search ResultsShowing 1 - 9 of 9 results for "RIR"
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 ...
Industry-made retirement models are self-serving: SCA
ELIZA BAVIN  |  MONDAY, 2 MAR 2020
... models, saying Australians deserve realistic retirement income standards. In its submission to the Retirement Income Review (RIR) SCA said existing models pushed by the wealth management sector have serious flaws, making them inappropriate for an increasing ...
ISA takes swipe at Grattan
ELIZA BAVIN  |  THURSDAY, 27 FEB 2020
... at a whole adult life level, as it takes a swipe at alternate modelling. In its submission to the Retirement Income Review (RIR), ISA said its modelling is evidence that a 12% SG rate will change average annual disposable incomes during the whole of ...
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