Australia is facing a retirement adequacy dilemma of tsunami proportions with 35% of the population aged over 60 by 2025. This wave of people transiting across and in retirement is expanding rapidly, presenting with diverse needs and expectations, placing immeasurable demands on a system stretched to cope adequately enough to provide a secure, comfortable and sustainable retirement outcomes for all.
Compounding the problem is Australia’s high life expectancy rate posing the threat of retirees outliving their savings, in addition to the increasingly uncertain times Australians are living in.
Australia’s once buoyant economy is now stalling and with the FSI under increased scrutiny emanating from the Hayne and Productivity Commission reports and ever changing reforms, Australians are feeling unsettled, from those trying to navigate the complexity of retirement financial decision making and associated risks, to even the most disengaged starting to question and lose confidence in the industry.
Broken down further, various cohorts ranging from marginalised groups of people with minimal savings and low super balances feeling condemned to face retirement in poverty to younger generations struggling to save sufficiently through changing work structures, high house prices and living costs. Along with older retirees facing ageism discrimination, declining health and costly health and aged care, and stresses of living in a high tech, digital world, these pressing issues are all fuelling the need to urgently address and find workable and sustainable solutions.
COLLABORATIVE AND HOLISTIC APPROACH:
To address these challenges, playing catch up with short sighted and siloed strategies is insufficient. A collaborative and holistic approach with longer term planning, vision and commitment must be enacted.
Although positive steps are being taken, from the Government’s policy requirement to superfund trustees to support a retirement income funds obligation, and fair, professional, comprehensive advice provision, that works in the best interests of members, in addition to optimal default retirement product development, CIPRS, there is still a way to go.
The Productivity Commission’s findings highlighting the underperformance of many superfunds has compelled the government’s recent disclosure of plans to reshape the industry through consolidation, and the need for a single default account initiative to limit multiple account holdings and associated duplicated fees and costs.
Continued collaboration between government, industry, regulators, advocacy groups and other parties taking an integrated and holistic approach focusing on areas including health and aged care system improvements, housing accessibility, a fairer age pension structure, increased super savings and work opportunity programs and bonuses for older Australians is imperative to success.
This 6th annual two day event will investigate, dissect & disentangle this minefield of issues with prominent thought leaders and practitioners across all stakeholder groups providing invaluable collective insights and expertise, in content rich solo and panel sessions, with candid discussion crossing over ideological divides encouraged.
Attend this event to listen, learn and contribute to the ongoing discussion to forge the best way forward to ensure fair, secure and sustainable outcomes for the Australian retiree sector.
WHO SHOULD ATTEND:
Senior personnel from Superfunds, SMFS, financial advisers, insurance providers, government, agencies, banks, regulators, lawyers, retirement income consultants, advocacy groups, academics, researchers, industry commentators, software service providers.
EARLY CONFIRMED SPEAKERS :
CEO, Council of the Ageing, COTA
Ian Yates is Chief Executive of COTA Australia, the national peak body for older Australians. Since 2002. Ian has served on a variety of federal govt and aged care sector national bodies, currently including the Aged Care Financing Authority, the Aged Care Quality and Safety Advisory Council, the Aged Care Sector Committee & the Dementia Ageing and Aged Care Mission Expert Advisory Panel. Ian is a Sponsor Member of the National Aged Care Alliance, and its Aged Care Gateway Advisory Committee and Co-Chairs its Aged Care Roadmap and NACA Blueprint Implementation Group.
Ian is also a member of ASIC’ Consumer Advisory Panel & of the Advisory Board of the Centre of Excellence in Population Ageing Research (CEPAR). Other roles include Chair of the Management Committee of the Australasian Journal on Ageing; a Director of COTA’s membership services company & the Aged Rights Advocacy Service. He has held several senior positions in public health governance in South Australia & served on the Flinders University Council for 20 years including seven years as Deputy Chancellor & Chair of both its Audit and Resources Committees and Alumni. Ian is Emeritus Deputy Chancellor of Flinders University and holds an Honorary Doctorate from the University. He was awarded Membership in the Order of Australia (AM) in June 2005.
School of Risk and Actuarial Studies, Australian School of Business, UNSW
Senior Associate, King and Wood Mallesons
Adrian is a Senior Associate in the International Funds team, part of KWM’s M&A practice. Adrian has extensive experience in advising across a wide spectrum of funds matters with a particular specialisation in advising superannuation funds, funds managers, wealth managers, life insurers and financial services regulation. In addition, Adrian previously spent a number of years working as an in-house lawyer with Mercer, where he advised on superannuation, funds, innovation and product development initiatives, life insurance litigation and financial services regulation before joining King & Wood Mallesons in 2016
Head of Strategy Management and Product, Hesta
Head of Research and Technical Advice, Aged Care Gurus
Chief Risk Officer, Mine Super
CEO, Future Super
CEO, National Seniors
Deputy Director, National Institute Economic Research
Ian Manning is a senior fellow of the National Institute of Economic and Industry Research, having been its Deputy Director from 1985 to 2018. He has also been a research fellow at the Australian National and Melbourne universities and has been responsible for a wide variety of research reports on topics in both macro and micro economics. His interest in the finance dates from the 1970s, when he drafted the chapters on income support for the Henderson report on Poverty, and has been maintained since in work centreing on regional economics. For two decades he has been a principal author of the State of the Regions reports published by the Australian Local Government Association.
Director, McGing Advisory and Actuarial
Principal Consultant, Head of Member Solutions Frontier Advisors Pty Ltd
Global Pension and Retirement Segment Leader, EY
CEO, SMSF Association
Associate Professor Department of Psychology, Faculty of Human Sciences Program Director, Professional Psychology, Macquarie University
Senior Investment Analyst, Retirement Strategy, First State Super
Principal Adviser, Retirement, Australian Treasury
Household Finances Program Director, Grattan Institute
Chairman, APAC FNZ
Senior Research Fellow, Melbourne Business School
Director Stephen Huppert Consulting
Stephen has over 25 years’ experience in Superannuation, Wealth Management and Life Insurance. Stephen is also a Fellow of the Institute of Actuaries of Australia.
Post-Retirement Innovation Leader, Mercer
Head of Client Partnerships, AI Intelligence
CEO, Aged and Community Services Australia, ACSA,
Actuary and Adviser
CEO, Global Centre for Modern Ageing, GCMA
Head of Product, QSuper