retirement income

Industry View

AIST viewpoint: The facts of retirement

There can be no doubt that big data is a big part of superannuation these days. At AIST’s recent Conference of Major Superannuation Funds held last month on the Gold Coast, the potential for the mining of data to revolutionise and disrupt our industry was an ongoing theme across the conference’s 66 sessions. But when […]
Investment Strategy

The FSIs seven recommendations for super

The Financial System Inquiry has made seven recommendations in its final report to government with direct reference to superannuation. All of these plus one observation on taxation (which was outside the scope of its inquiry) are listed below. In reviewing the report yesterday, Pauline Vamos, chief executive of the Association of Superannuation Funds of  Australia […]
Hedge Funds

QSuper imagines long life insurance

QSuper has envisioned a process for creating its own deferred annuity that would be one part investment and one part a group insurance contract. Speaking after a hard hitting oration to the ASFA annual conference in which she called for a “second super revolution”, Rosemary Vilgan, chief executive of QSuper, said this product could be […]
Policy and Regulation

Murray offers no quick fix on retirement income

The removal of impediments to the creation of retirement income products should not go ahead until there is greater consensus on what purpose the superannuation system serves, David Murray has revealed. In talks with Investment Magazine at the offices of Australian Securities and Investment Commission in Sydney, the day after the release of the interim […]
Policy and Regulation

Overhaul needed or super “condemned”: Deloitte

The superannuation system is “condemned to fail” if it isn’t overhauled and made consistent with the aged pension by providing lifetime benefits rather than lump sums, warns a new Deloitte report. The Federal Government and the industry should be tasked with moving super to an annuitised and more flexible system or leave Australians woefully underfunded […]
Hedge Funds

Mortgage biggest cohort consideration: REST

Pre-retirees are prioritising paying off mortgages ahead of retirement planning, suggesting cohorts based on debt liabilities should be considered, says Paul Sayer, chief operating officer REST. The findings are based on member research carried out by REST. “People are living longer and thinking about a longer investment horizon, but they want to pay that debt […]
Investment Strategy

CBUS members welcome income projections

CBUS has gained a 97 per cent approval rate from members for statements which confront them with an estimate of their income in retirement in today’s dollar value. The building industry fund conducted the exercise with 20,000 members to raise awareness that taking the lump sum was not the only option on retiring. Since the […]