Preparing for (mass) retirement

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Presentation transcript:

Preparing for (mass) retirement Fund Operations Network – 6th May 2016

Financial Systems Inquiry, Final Report, December 2014 Purpose of Super “To provide income in retirement to substitute or supplement the Age Pension” Financial Systems Inquiry, Final Report, December 2014

Current Evolution – Account-based Pension

Evolution 1 - Lifecycle

Evolution 2 – Income Bucketing

Evolution 3 – Goals Based Investing Corrigan & Matterson, May 2010, A Holistic Framework for Lifecycle Financial Planning

Level of Customisation Member Customisation Product Level of Customisation Information Requirements Account-based Pension Risk questionnaire Lifecycle Age Income Bucketing Age, Balance, Age Pension eligibility, Income requirements Goals Based Investing Age, Balance, Gender, Salary, Age Pension eligibility, Income requirements, Goals, Health, Dependents, Other Assets (in and out of super)

Important Information