By David Bell “Given the interaction between super, aged pension, and housing in retirement, and observing that these areas sit in different government portfolios, would you consider establishing a more integrated policy function focused on retirement incomes?”. This was my question to Chris Bowen at a talk he gave last year. The response: “Don’t boil… Read More
Australia has slipped from third to fourth position in the newly released Mercer Global Pension Index for 2018, a survey widely considered the most comprehensive overview of global pension systems. The study of 34 retirement income systems around the world ranks them by three broad measures – adequacy, sustainability and integrity. Aggregate scores, the weighted… Read More
Following the government’s announcement of important policy changes relating to post retirement, leaders of the superannuation industry, policy, academic and community circles converged at the CSRI Leadership Forum in Canberra on 30-31 May 2018 to discuss the ramifications of these proposed reforms. The Forum brought together a broad range of perspectives in debating the… Read More
By Patricia Pascuzzo (Founder and Executive Director, CSRI), presented 31 May 2018, CSRI Leadership Forum 2018 Today we have heard much about the problems people face in retirement. And we have heard deep insights from industry leaders about the challenges they face in helping retirees manage their financial risks. As a non profit, non partisan, independent… Read More
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. Read More
By Patricia Pascuzzo Changes announced in the federal budget take us a step forward in ensuring the superannuation system achieves what it was set up to do – provide greater security of income for people in retirement while reducing the burden on taxpayers of supporting retirees. The budget this week promised a new retirement income… Read More
Patricia Pascuzzo The crisis of public confidence in the financial planning industry, intensified by the revelations at the Haynes Royal Commission, provides the starkest case yet for a consumer-centric approach to meeting Australia’s retirement income challenge. Australia’s defined contribution superannuation system asks individuals to manage financial risks beyond their capability. You might think that the… Read More
By Patricia Pascuzzo The government’s proposed My Super “outcomes test” for superannuation trustees running default accumulation funds is significant. It could finally provide the means to nudge trustees toward developing effective comprehensive income products for retirees (CIPRs). Until now, criticism of Treasury’s proposals for CIPRs has risked overshadowing the ends of long-term policy reform with argument over means. But the move to improve superannuation governance to… Read More
In 2016, CSRI carried out a comprehensive review of the retirement income system, building on the findings of the work of the Murray review, the Cooper Review and the Henry Review. This was a collaborative effort involving industry, consumers, government and academia. The aim was to develop long term policies to create adequate and sustainable retirement… Read More
