As Australia's population ages, issues have been recognised in the superannuation and pension systems. Anthony Asher gives an update of what the Retirement Incomes Working Group is doing to make positive changes to the current systems and guide future product design.
Posted on: August 29, 2018
With Rice Warner nominated as ‘Employer of the Year’ in the Women in Financial Services Awards 2018, Lesley Traverso discusses the actuarial firm’s ‘Valuing Females Policy’ which includes additional superannuation contributions.
Posted on: July 26, 2018
Are life-cycle funds an opportunity cost to members or a tool for managing a member’s risks through their different life stages?
Posted on: July 4, 2018
With the 2018-19 Federal Budget announcement of an expansion of the little-known Pension Loans Scheme, it is timely to revisit the hurdles to be overcome before housing can play a meaningful role in meeting Australia’s future retirement income challenge.
Posted on: June 25, 2018
Macquarie University has released a report focused on measuring longevity basis risk in realistic scenarios as part of an ongoing research project sponsored by the Life and Longevity Markets Association (LLMA) and Institute and Faculty of Actuaries (IFoA). Here, Actuarial Professors at Macquarie Uni, Jackie Li and Leonie Tickle, explain their findings.
Posted on: December 15, 2017
Stephen Huppert, Head of Product Innovation at Trustee Partners, reflects on government reforms and rhetoric surrounding Australia’s c.$2.3 trillion retirement savings sector.
Posted on: August 16, 2017
At the May 2016 Financial Services Forum, there were sessions on the use of housing wealth to fund retirement and also on the interesting achievements of some “actuary entrepreneurs”. This article combines those two topics in an interview with Peter Szabo, an actuary who is the founder and managing director of Homesafe Solutions, a company providing a debt-free home equity release product to senior Australians.
Posted on: September 26, 2016
The Actuaries Institute welcomed the 2016-17 Federal Budget this week, citing policy changes designed to inject more equity and fairness into the retirement incomes system.
Posted on: May 5, 2016
On 29 February, around 40 members gathered at the Actuaries Institute for a Research Colloquia to discuss the objectives of the superannuation system. This is particularly timely given the release by the Government on 9 March of a discussion paper and consultation process on the “Objective of Superannuation”. Here, Andrew Boal summarises those discussions and some principles that emerged.
Posted on: April 12, 2016
Australian baby boomers are considered one of the richest cohorts in history, but they may not know it because most of their wealth is tied up in their family home. John McLenaghan reports on a push to unlock access to home equity to help fund retiree lifestyles.
Posted on: November 26, 2015
A new international study of longevity risk reinforces the need for essential reforms to safeguard the retirement income system for current and future Australians.
Posted on: October 26, 2015
[VIDEO]: David Knox gives his view on this week's Government response to the Financial System Inquiry and outlines the industry-first retirement product that won him the inaugural BTIM Retirement Innovation Award.
Posted on: October 22, 2015
Should the Age Pension be a "safety net" for a minority or a means-tested right for the majority? Actuary Geoff Dunsford gives his view.
Posted on: September 30, 2015
David Murray gave a sound nod to the rigour and value of actuarial work as he launched the Institute's Retirement Incomes White Paper 'For Richer, For Poorer' in Sydney on Wednesday 2 September.
Posted on: September 4, 2015
[VIDEO]: Stephanie Thomson showcased the unique power of actuarial skills to reveal a picture of intergenerational inequity, at a United Nations Forum last month.
Posted on: August 13, 2015
Seniors must be prepared to tighten their belts if Australia’s tax and transfer system is to remain sustainable over the next 50 years, writes Stephanie Thomson.
Posted on: August 6, 2015
The NSW Supreme Court recently ruled on an appeal by Qantas over a partial exemption of defined benefit superannuation contributions from NSW payroll tax. Paul Shallue reports on the court findings and what they could mean for employers.
Posted on: August 4, 2015
As debate rages over how best to re-design Australia’s taxation system, actuaries are putting forward strong recommendations on superannuation tax reform and retirement incomes policy.
Posted on: June 16, 2015
VIDEO: Finity Consulting Principal Geoff Atkins on his experience with depression, contributing to the Murray Inquiry (FSI) and a Super Industry "Cold War".
Posted on: June 11, 2015
Following the recent Financial System Inquiry, Australia appears about to embark on a period of innovation in the retirement income sector. Georgina Hemmings draws insights from the UK annuities market to discuss ways to use mortality and interest rate assumptions to achieve a better outcome for retirees.
Posted on: June 11, 2015