Managing longevity risk, the risk of outliving retirement savings, presents an unprecedented challenge for households, welfare agencies and governments. It has arisen from the culmination of:
- An aging population
- Shortfalls in retirement savings
- Lack of household interest in retirement saving plans
- Older people wanting to age in their own home
- Potential inclusion of housing in the means test for the Aged Pension
This challenge is current and will characterise future generations. Reverse Mortgages , may in part, represent a viable means of managing longevity risk.
The research primarily focuses on presenting an overview of the Australian Reverse Mortgage Market, the findings of which will provide a deeper understanding of the Reverse Mortgage Market for households, the financial sector, businesses and policy makers.
This research was undertaken as part of the ACFS Commissioned Paper Series.
The presentation was delivered to the ACFS Funds Management and Superannuation Research Reference Group.