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The Actuaries Institute today expressed its disappointment that the government has again failed to address the impending longevity tsunami, and the pressing need to develop a more vibrant annuities market to address this in this year's Federal Budget.
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The Actuaries Institute today reinforced its call for stronger governance standards for Australian superannuation funds, saying the requirements for super funds should be brought closer to existing governance standards for banks and insurers. The Institute emphasised the need to build and maintain members’ confidence in Australia’s superannuation system.
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New discussion paper outlines key barriers stopping annuities market development as billions flow from super into retirement products.
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In its Pre-Budget Submission, the Institute has urged the Federal Government to address two national priorities in the upcoming Budget: removing barriers to allow ageing Australians to better prepare for retirement with realistic annuity options; and creating a temporary national insurance pool for high flood-risk properties.
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The Institute announces the appointment of David Goodsall as President and underlines population ageing, natural disaster management and super fund governance as key areas of focus for 2012.
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The Institute has issued a media release reiterating the need for a temporary national pool to subsidise high insurance premium.
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The Institute issued the attached press release following the successful ERM Seminar on 20th September in Sydney “Australian ERM ranks well by global standards but risk culture underdeveloped actuaries survey reveals”
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The Institute has called for the creation of a temporary national insurance pool to subsidise premiums for high flood risk properties and to fund financial incentives for mitigation actions.
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