Retirement Incomes

Insurance Inside Super – Federal Budget Changes

Kajal Pandya reports on the recent “Insurance Inside Super – Federal Budget Changes” Insights session. The session covered an interesting discussion around the challenges that superannuation funds and group insurers will face and the unintended consequences of the proposed Federal Budget changes.

In conversation with the Australian Government Actuary - Podcast with Guy Thorburn and Elayne Grace

As the office of the Australian Government Actuary (AGA) nears 100 years of service, Elayne Grace caught up with the current AGA Guy Thorburn, to find out what the office does.

International CPD opportunities

There are over 30 committees, subcommittees, task forces, and working groups of the International Actuarial Association. These groups all commission, create and share content that may be relevant to Actuaries Institute members. Links to some of the content discussed at the recent meetings in Berlin, Germany are provided below.

Finding meaning in retirement – and the role of a coach

With longevity on the increase in Australia, how can a person plan a satisfying retirement, given that it may last for several decades? Dr Jon Glass describes some of the emotional, non-financial, considerations at play.

The value proposition of life-cycle funds: opportunity cost or risk management tool?

Are life-cycle funds an opportunity cost to members or a tool for managing a member’s risks through their different life stages?

Fast five with Fintechs  - an introduction

Elayne Grace outlines a new Actuaries Digital series where we spend five minutes with Australian Fintech and Insurtech companies, asking about their products and start-up journeys so far.

Fast five with Fintechs - Plenty Wealth

Greg Einfeld, Director at Plenty Wealth outlines his journey in fintech and where he sees his business, and the broader fintech landscape heading.

Housing Wealth and Retirement Funding - An Update

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.

FSF ‘a must’ for Super professionals

Curator of the Superannuation program for the 2018 Financial Services Forum in Sydney next month gives us a taste of what industry leaders will be discussing at the Forum.

The Asher Approximation

John De Ravin is a member of the Institute’s Retirement Incomes Working Group and in this article he shares a suggestion made by the Convenor of that Working Group, Anthony Asher.

New Developments in Longevity Risk Transfer Market

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.

Michael Rice urges peers to promote and protect brand ‘Actuary’

Michael Rice arrived at the Institute last week to accept the 2017 Actuary of the Year Award alongside an entourage of supporters from the firm he founded 30 years ago.

Comments:4

Pooled pensions possible at last

Anthony Asher, Associate Professor at the School of Risk and Actuarial Studies at UNSW, writes about the sort of pension product that he would like to see developed now that SIS regulations have been modified to allow development of more flexible products.

Putting the '-annuation' back into Super

The Actuaries Institute is currently preparing a submission about Comprehensive Income Products for Retirement. Darren Wickham, from the Institute's Retirement Strategy Group, outlines the principles for the submission that have been agreed so far, following discussion with members.

Global trends discussed at ASFA Conference

Enock Chiyangwa shares some key insights from the ASFA National Conference and Super Expo held on the Gold Coast in November 2016.

Likes:1

Pre-Budget Submission - 2017/18

The Actuaries Institute’s Pre-Budget Submission encourages timely Government action to introduce and promote Comprehensive Income Products for Retirement (CIPRs); facilitate the rationalisation of life insurance legacy products; and implement stronger risk mitigation measures to protect against the potential impacts of climate change.

A History of British Actuarial Thought

Craig Turnbull, Investment Director at Standard Life Investments (UK), recently published the book 'A History of British Actuarial Thought'. In this book, Craig illustrates the development of the actuarial profession within each of the three key practice areas of life assurance, pensions and general insurance.

Practice Update videos now available

The Actuaries Institute has just released the first collection of Practice Update videos! See what each committee has been up to and also earn CPD points.

Comments:1

Homesafe Wealth Release for retirees - an interview with Peter Szabo

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.

The Future of Financial Services – FSF 2016 Wrap Up

FSF2016 examined how disruptors will impact the financial services industry. It asked, how can actuaries reimagine their career in the future world? Where are the opportunities?

Also this month