Developing the retirement income framework

Anthony Asher

Written by Anthony Asher,  Convenor of the Retirement Incomes Working Group, this issue of The Dialogue explores the case to be made for a compulsory longevity risk management element to be added to superannuation products 

To help improve living standards for older Australians, Anthony concludes that:

  • superannuation funds should include a longevity-based product in their retirement income offerings and provide retirees with greater levels of low-cost financial advice; and
  • having products that more efficiently manage longevity risk will result in higher living standards in retirement and better align the superannuation system with its objectives.

The Dialogue is a series of papers written by actuaries and published by the Actuaries Institute. The papers aim to stimulate discussion on important emerging issues. The opinions expressed in this paper are those of the author and do not necessarily represent those of either the Institute of Actuaries of Australia (the ‘Institute’), its members, directors, officers, employees, agents, or that of the employers of the author