Australiaâ€™s superannuation system has focused on accumulating significant pools of assets for members. However, as each member approaches retirement, they face considerable uncertainty in converting their benefit into an efficient income stream in retirement. Funds have yet to fully develop the products and services to properly deliver those incomes.
The system is being challenged as the Baby Boomers move into retirement with unprecedented retirement savings, but with many still under funded. While this is happening, longevity keeps improving and there is little sign that these improvements will stop. Retirement savings have to be stretched to support ever lengthening retirements.
Michael Rice will discuss the issues and suggest solutions for funds and members.
Michael has extensive experience in the financial services industry both in Australia and overseas. He specialises in providing strategic advice to financial institutions, fund managers, government agencies, industry associations and large superannuation funds. Michael founded Rice Warner in December 1987.
Michael has undertaken pioneering research into Age Pension dependency and trends. He has a keen interest in the integration of social security and superannuation as well as measuring the adequacy of retirement incomes for current fund members.
Michael heads up Rice Warnerâ€™s public policy work. We provide detailed submissions on most relevant government inquiries and pending legislation.
He writes and speaks frequently on topical issues affecting the funds management, life insurance and superannuation industries.
Michael was Chairman of QSuperâ€™s Investment Committee from January 2009 to June 2013 and remains an independent investment expert on the committee. He is a former Councillor of the Actuaries Institute and is currently Convenor of its Public Policy Council Committee. Michael is also a member of the Advisory Board of the ANU College of Business and Economics.
Refreshments from 6pm. Please RSVP below for catering purposes.