Funds might tread carefully with their intra-fund strategies but work being done by policy makers and the funds themselves around retirement solutions will open new pathways for advice within superannuation.
The Retirement Income Covenant will be principles-based legislation designed to push funds to develop retirement strategies and provide guidance to ensure members make the most of their accumulated savings during retirement.
ASFA’s research largely fails to track the path of spending and retirement balances through time, nor account for any sensible measures such as debt reduction at the point of retirement, David Bell highlights.
After six-years in retirement income helping super funds and policymakers with their positioning, strategy and product in all things decumulation, Amara Haqqani is shifting her focus elsewhere, but not before delivering some home truths to the segment.
A universal pension scheme could result in “taking some off the top” by essentially removing or tapering tax concessions for higher income earners and redistributing these savings to middle income earners, Mercer's David Knox highlighted.
The minister reiterated the government’s plan to make a call on the SG rise closer to July 1 when the “trade off” with wage growth is clearer, while shadow minister Stephen Jones said the current level “just won’t get us there”.
The Retirement Income Review is clever for a number of reasons, not least because it managed to simplify complexity and create a structured case for improving retirement outcomes by not increasing the SG, all without without making any recommendations.