Date/TimeDate(s) - 25/10/16
10:30am - 12:00pm
LocationFinancial Services Council
Level 24, 44 Market Street
The Australian Centre for Financial Studies (is a not-for-profit research centre of Monash Business School) presents the 2016 Melbourne Mercer Global Pension Index on Tuesday 25th October 2016 as a briefing at the offices of the Financial Services Council in Sydney.
This year will focus on:
- “What will Australia’s superannuation system look like in 10 years’ time” by Prof Rodney Maddock, ACFS
- understanding the 2016 results and
- reviewing the contemporary chapter “The very significant impact of ageing populations” by Dr David Knox, Mercer
The MMGPI Launch is suited to CEOs, CIOs, investment and portfolio managers, product designers, trustees, SMSF, custodians, service providers to funds, financial services professionals, investors, policy makers and regulators.
The Melbourne Mercer Global Pension Index (MMGPI) compares and ranks retirement income systems around the world based upon adequacy, sustainability and integrity. Currently in its eighth year, the MMGPI provides a valuable contribution to the global debate about how best to provide for an ageing population and is widely respected as the world’s most comprehensive comparison of pension systems.
The primary objective of this research is to benchmark each country’s retirement income system using more than 40 indicators. An important secondary purpose is to highlight the shortcoming in each country’s system and to suggest possible areas of reform that would provide more adequate retirement benefits, increased sustainability over the longer term and/or a greater trust in the pension system.
Australia’s retirement income system comprises a means-tested age pension (paid from general government revenue); a mandatory employer contribution paid into private sector arrangements (mainly DC plans); and additional voluntary contributions from employers or employees paid into these private sector plans.
The overall index value for the Australian system could be increased by:
- introducing a requirement that part of the retirement benefit must be taken as an income stream
- increasing the labour force participation rate at older ages
- introducing a mechanism to increase the pension age as life expectancy continues to increase
- increasing the minimum access age to receive benefits from private pension plans so that retirement benefits is restricted to no more than five years before the age pension eligibility age.
- view Australia’s current rankings
- view www.globalpensionindex.com
The Index is produced by the Australian Centre for Financial Studies and partnered with Mercer, with the Index funded by the Victorian State Government.
FREE Event with LIMITED SEATING
Register your interest via firstname.lastname@example.org
CLOSING DATE – Wednesday 19th October 2016
Please contact Frieda Kukulka either by email (email@example.com) or call (03) 9666 1007 (Tues – Thurs)