Guided choice framework needed for better retirement outcomes
“It does not replace financial advice but sits alongside advice channels.” Dunn said trustees would first need to identify a set of member cohorts and the retirement solution likely to best suit members in those cohorts. These cohorts would be based on age, gender, and balance. Then, considerations that needed to be identified were: Members value income and estate value – solution need to balance providing income for life for those who lived a long time, with the desire to pay bequest for those who did not live as long; Allowance for Age Pension in assessing retirement outcome...
Source: moneymanagement.com.au