Optimum Pensions News Today

Very few people die at their age of life expectancy, giving rise to financial planning’s biggest conundrum: longevity risk.

New guaranteed-income products offer more choice to Baby Boomers worried about running out of money. This is what you need to know.

Optimum Pensions has urged super trustees to insure life expectancy and mitigate mortality risk to meet Retirement Income Covenant objectives.

The term, retirement regret, has become part of the vernacular. We asked an expert how you can avoid that end.

Retirement is overwhelmingly concerning Australians, with a nationally representative Finder survey showing over 12 million people harbour longevity risk worries.

Super funds might need to look at a range of products, including annuities, to successfully demonstrate they are helping members to maximise their retirement income.

Superannuation funds have been in a state of regulatory flux which has prevented them from creating new products like lifetime pensions, according to Peter Rowe, general manager of Optimum Pensions.

Optimum Pensions noted many tools reflected outdated and inappropriate life expectancy statistics. The firm said it had launched its new Lifespan Calculator which was based on the latest Australian Life Tables but also incorporated health data from a large reinsurer of longevity risk. The tool did not show averages but results could be personalised by considering health and lifestyle factors. It also included both spouses in a couple and let each user focus on how confident they wished to be th...