Australian Centre for Financial Studies (ACFS) is partnering with Finsia for a third year to conduct the Consumer Finance Symposium in Melbourne on Tuesday August 3rd. In 2010 it is themed Financial Wellbeing in Retirement and will highlight the many issues that individuals face in retirement and the challenge to Government of planning for an ageing population.

ACFS will conduct the afternoon workshop to encourage rigorous academic and industry research to understand how individuals make long term financial decisions and how they allow for their own ageing.

Speakers and topics at the ACFS workshop on Financial Decision-making:

  • Dr Carsten Murawski, Senior Lecturer, University of Melbourne – Rational behaviours? What brain imaging may tell us about financial decision-making
  • Professor Michael E. Drew, Griffith University and Managing Director, QIC Lifecycle Strategies – Target Date and Lifecycle Strategies converting theory to practice
  • David Williams, CEO, MyLongevity – Drivers of longevity, practical outcomes & available research data
  • Rachel Lane, Executive Manager, Aged Care Solutions, Colonial First State Investments Limited – Aged Care: The struggle to provide Quality, Equity, Efficiency, Sustainability & Choice.

Professor Deborah Ralston, ACFS Director stated that the responsibility for a happy healthy retirement rests with individuals and policy makers. Individuals need to recognise the need to save and there is a need for more products to address longevity risk. Women have some particular issues in this regard due to lower average incomes, and interrupted career patterns. At the same time women tend to live longer so need more svings. This presents a real challenge to policy makers and a demand for support mechanisms such as tax concessions, pension, health and aged care benefits.”

Ralston said ACFS supports recommendations of the Australian Super System Review (Cooper Review) to increase the efficiency of the superannuation system to enhance long-term sustainability. While Australia enjoys a well rated retirement system by international standards, there is still much to be done in addressing the adequacy and sustainability of retirment incomes.”

Media contact:

Deborah Ralston
Professor Deborah Ralston
Director, Australian Centre for Financial Studies and
Professor of Finance, Monash University
W: +61 3 9666 1010
Mob: +61 0419 650 318

The Australian Centre for Financial Studies facilitates industry-relevant and rigorous research and consulting, thought leadership and independent commentary. Drawing on expertise from academia, industry and government, the Centre promotes excellence in financial services. The Centre specialises in leading edge finance and investment research, aiming to boost the global credentials of Australias finance industry; bridging the gap between research and industry and supporting Australia and Melbourne as an international centre for finance practice, research and education.

The Australian Centre for Financial Studies (previously known as the Melbourne Centre for Financial Studies) is a not-for-profit consortium of Monash University, the University of Melbourne, RMIT University and Finsia having commenced in 2005 with seed funding from the Victorian Government.