The Institute fully supports Government’s steps to address the financial advice gap in Australia, where many consumers cannot access or afford full personal advice. Overall, and subject to a few qualifications around superannuation trustee certainty, advice through superannuation limitations and targeted superannuation prompts, the Institute believes these reforms represents positive developments which should increase access to and affordability of financial advice and guidance.

The Institute broadly supports the ‘payday super’ exposure draft legislation to require employers to pay their employees’ super at the same time as their salary and wages and to help ensure individuals receive the Superannuation Guarantee (SG) contributions to which they are entitled. Focusing on appropriate treatment of individuals with defined benefit (DB) interests, we recommend that the SG compliance test for accumulation members in DB arrangements be based on the employer contributions actually paid (or credited from reserves).

Could superannuation help solve our healthcare funding crisis? In our latest instalment of Investment Ideas, hosts Douglas Isles and Jan Swinhoe speak with Dr Raymond Yeow, a unique voice in healthcare who combines perspectives as both a GP and an actuary. Key areas discussed include: A proposal for Health Savings Accounts within superannuation, based on […]

We’re witnessing a historic democratisation of data and AI capability. So says Zilinka Jiang in our latest instalment of Investment Ideas. In Digitisation, Zilinka sits down with hosts Jan Swinhoe and Douglas Isles to discuss the transformative potential of AI. Key areas discussed include: Practical applications in business, including how Telstra has improved customer service […]

The Institute supports the Government’s decision to ban adverse genetic test results in life insurance underwriting. This will give the Australian community certainty and assurance on the way forward and support medical advances that can benefit society in many potentially profound ways. As genetics research is a rapidly advancing field, we recommend policy that can adapt to the advances in genetics so that life insurance balances accessibility of insurance and equity to the insured population as a whole.

How can retirees confidently spend their super without fear of running out? In our latest instalment of Investment Ideas, hosts Jan Swinhoe and Douglas Isles explore the challenges of the decumulation phase with Giacomo Tarantolo from Unisuper and Estelle Liu from AMP, specialists in retirement solutions. Key areas discussed include: The complexity of transitioning from […]

Are we ready for a world with fewer babies and longer lives? In the latest instalment of Investment Ideas, Demographics, Jan Swinhoe and Douglas Isles sit down with Dr David Knox AM and Associate Professor Katja Hanewald to explore the economic and investment implications of global demographic shifts. Key areas discussed include: The dual demographic […]

How do complex views on decarbonisation create investment opportunities? In the third episode of Investment Ideas, Decarbonisation, Nicolette Rubinsztein AM, incoming Chair of Greenpeace and financial services non-executive director, speaks with Jan Swinhoe about Australia’s energy transition and how diverse views on decarbonisation create opportunities for investors. Key areas discussed include: The role of gas […]

Reinsurance is a critical element of risk management for general insurance. The Institute welcomes the opportunity to provide feedback on reinsurance settings to assist in maintaining access for Australian insurers to global reinsurance arrangements and high-quality alternative protection markets.

As nations continue to respond to crises by taking on more debt, are we kicking the can down the road on global debt sustainability? In the second episode of Investment Ideas, Debt, Douglas Isles sits down with Simon Warner, Head of Portfolio Management at Aware Super, to explore how investors should think about debt sustainability […]

The debut episode of“Investment Ideas”dives straight into one of the most significant forces reshaping global markets: deglobalisation. Co-hosts Jan Swinhoe and Douglas Isles speak with Belinda Cheung, Director in the Economics and Capital Markets team at Future Fund, and Annette King, non-executive director, former President of the Actuaries Institute and CEO, to explore […]

What happens when two of Australia’s most experienced investment actuaries sit down with leading experts to explore the forces shaping our financial future? The Actuaries Institute’s new podcast series“Investment Ideas”finds out. As markets grapple with profound structural changes, from a shift back to imperialism to declining birth rates globally,“Investment Ideas”pairs Jan […]

Does your superannuation or wealth management projection model allow for negative auto-correlations of share investment performance? Given their presence in the actual historical share data and their related impact on confidence intervals and on durations of cumulative positive and negative performance, the authors suggest that they should be allowed for.

A Discussion Paper that sets out a vision for meaningful tax reform that aims to make super simpler to invest, easier to spend and fairer with bequests.

The Australian superannuation system delivers considerable benefits, including a financially secure retirement for an increasing number of retirees. However, a range of taxes on contributions, earnings and benefits make the system complex in a variety of areas. In this session, the Authors of the Institute’s Discussion Paper on Superannuation Tax Reform present an option for significant tax reform, comprising of several elements and which together as a package are suitable for the major structural trends in coming decades. This option is deliberately ambitious and has been written to provoke debate on what changes are needed for the future. The Actuaries Institute and the Authors welcome feedback on the reform package covered in this Discussion Paper, which will ultimately inform an update to the Institute’s public policy position. The goal is a retirement income system that is clear in its objectives, simpler, more efficient, delivers adequacy, and enhances equity across and within generations.

In Superannuation Tax Reform: Sensible Changes for a Fairer System, actuaries Richard Dunn, Michael Rice, Jennifer Shaw and Alun Stevens set out their vision for meaningful tax reform that aims to make super simpler to invest, easier to spend and fairer with bequests.

A Discussion Paper that sets out a vision for meaningful tax reform that aims to make super simpler to invest, easier to spend and fairer with bequests.

For 20 years now, the Association of Superannuation Funds of Australia (ASFA) has been publishing a breakdown of the annual budget for a ‘comfortable’ or ‘modest’ retirement and the estimated super balance required to achieve it. This standard is widely used by super funds as a guide for their members and by commentators more generally. But with the retirement landscape changing significantly in recent years, new retirement income products are emerging. In this article, we explore whether the new ‘lifetime’ income products can achieve the same comfortable retirement with less money.

Recent developments in superannuation and retirement income legislation are expected to provide plenty of opportunities for aspiring actuaries to shape the future of the Australian superannuation system and make positive impacts on retirement for various different generations. The Superannuation and Retirement Applications (SRA) subject offers members the opportunity to learn about the current and potential […]