Congratulations to Christine Brownfield, the recipient of the Melville Financial Services Prize for her paper presented at the 2014 Financial Services Forum: The Fourth Pillar – The Role of Home Equity Release in Retirement Funding.
The Prize Review Panel determined that the paper met all criteria for the prize and is an important addition to actuarial literature. The Panel concluded:
This paper discusses the potential for home equity release to become an accessible fourth pillar in retirement funding, and the impact on intergenerational equity and the sustainability of the age pension system.
The benefits and issues associated with home equity release are clearly discussed along with a range of potential options.
The paper raises members’ awareness of this important topic and so meets the requirements of the Melville Prize.
The monetary value of the prize is $4,500.
The prize was presented to Christine at the Melbourne Fellowship and Graduation Dinner on Tuesday 19 August.
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