ten-two

Retirement

MLC’s ten-two rule generates increased contributions from members

A new rule-of-thumb which allows members to quickly estimate their guaranteed income in post-retirement has prompted them to save more, Andrew Barnett, general manager, retirement solutions, MLC has said. The rule takes a members’ account balance, divides it by 10, and then divides the answer by two (five per cent) to give the guaranteed income […]