Policy and Regulation
Group shows members what $20K does to super
Calculations show that members who withdraw large chunks of their super early could reduce their balance at retirement by as much as $50,000.
Tahn SharpeApril 16, 2020
Actuaries Institute
Policy and Regulation
If the ocean boils, is super the blunt tool?
If the government adopts a broad focus for its Review of the Retirement Income System, then there is risk that super is viewed as a blunt tool rather than something which can deliver much more, and Best-in-Show is definitely in play, says David Bell.
David BellAugust 26, 2019
Policy and Regulation
What the industry told Hockey
Industry bodies have made public the key positions of their submissions to the Government’s Tax White Paper; commons themes include a lifetime cap on tax concessions, not change to the dividend imputation system, taking the whole system into account (alongside the Age Pension) and the cessation of tinkering as it is destroying confidence. The Treasurer […]
Dan PurvesJune 15, 2015
Policy and Regulation
Actuaries Institute and AIST disagree over the Intergenerational Report
The Actuaries Institute said that the Intergenerational Report (IGR) has “conclusively” demonstrated the need for policy change, while the Australian Institute of Superannuation Trustees (AIST) said that “there is no need to panic”. The Actuaries Institute believes the IGR’s forecast change in demographics will put “significant pressure on health, pension and aged care costs”, but […]
Dan PurvesMarch 9, 2015
Opinion
How actuaries came out on top in FSI report
I have seen David Murray speak three times over the past year and interviewed him for an hour at the office he shared with ASIC in Sydney. What has been growingly apparent from these encounters is his resistance to charm, to being swayed by emotion or to be distracted by tangential detail. As such, many […]
David RowleyDecember 8, 2014
Investment Strategy
FSI: All funds to pre-select retirement income product for members
Super funds should be required to pre-select a single retirement income product for members, the Financial System Inquiry has recommended, while acknowledging at the same time that no one retirement product will suit all. The recommendation has been made in recognition of the general level of difficulty members have in making decisions on managing their […]
David RowleyDecember 7, 2014
Investment Strategy
Three new approaches for post-retirement
“The Actuaries Institute would like to see retiring Australians have increased choice in relation to the retirement income products they are offered and considers the removal of current impediments to product innovation as an essential element of such a review, as well as ensuring that appropriate safeguards are in place to protect consumers and safeguard […]
David RowleyFebruary 17, 2014
Retirement
The baby boomer tsunami
Australia has probably the most admired accumulation system in the world, but our system of decumulation is a work in progress. That superannuation funds, politicians and researchers are all talking about change is cause for hope. Indeed such is the level of agreement that the era of easy access to lump sums must end, several […]
David RowleyAugust 19, 2013