Post Retirement

Unfortunately the Australian superannuation system was created as an accumulation system, with little recognition of the time after retirement.  These articles provide references for how fiduciaries should consider the challenges of retirement and managing peoples savings to provide income in their retired years....

  1. IITG responded to the Treasury paper on the Retirement Income Covenant Position Paper in Jun 2018. Here are my thoughts on this important innovation and evolving retirement services.  

  2. Innovation in government bonds may be needed to help retirees fund theselves.  This is an idea from Robert Merton and Arun Muralidhar creating SeLFIES.

  3. An article from New York Times on Tontines - an old but interesting way to pool risk and hedge longevity

  4. Willis Towers Watson on CIPRS before the consultation period ends

  5. A paper produced by AIST and ACFS titled "Expenditure Patterns in Retirement".  (2016) This paper seeks to add evidence to understanding the income needs of retirees by looking at expenditure patterns amongst existing retired households in Australia.

  6.  ARC Centre of Excellence in Population Ageing Research produced this paper on Retirement Income Adequacy: Concepts and Measurement focussing on Australia and global pension systems.  It includes a section on adequacy and the measures that can guide the assessment of outcomes.

  7. MLC research on Lifestyle Financial Security and Retirement (Parts 1, 2 and 3) (2016)

  8. How VicSuper evolved its retirement income model from a article with Michael Dundon

  9. Seminal work on withdrawal rates in retirement by Prof Michael Drew and Dr Adam Walk (2014) - "How Safe are Safe Withdrawal Rates in Retirement".  Inconjunction with FINSIA.

  10. Developing Equity Release Markets in Australia - a paper written for the Actuaries Summitt in 2013.  The Murray Inquiry points to this market as one needing further investigation.  

  11. Reverse Mortgages seen as the Fourth Pillar of Retirement Savings - a paper from Christine Brownfield showing the potential of reverse mortgages in the retirement incomes system.

  12. Solving retirement challenges with Pooled Survival Funds.  A paper that examines the merits of a 'tontine' or pooled survival fund as a way of providing longevity insurance.