The Final Report of the Retirement Income Review was recently released (20 November 2020) by Treasury which covered the current state of the retirement income system and how it will perform in the future as Australians live longer and the population ages.
As part of the SMSF Adviser Show, co-hosts, Aaron Dunn and Miranda Brownlee as co-hosts are joined by Jeremy Cooper, the chairman of retirement income at Challenger and also the chair of the Super System Review back in 2010.
In the podcast, we delve into one of the biggest issues covered in the final report around retirees efficiently consuming capital, some of the behavioural reasons for retirees holding on to large sums of money throughout retirement including fears over healthcare costs and market shocks. Jeremy also shares some predictions on what policy changes may be considered in the future to encourage retirees to sustainably draw down their retirement savings.
