With the Retirement Income Covenant coming into effect on 1 July 2022, superannuation funds will be required to formulate, review regularly and give effect to a retirement income strategy.
The [i3] Retirement Strategy Forum brought together investment, product development, actuarial and member experience executives to share how superannuation funds design and implement their retirement strategies, in preparation for the new covenant.
Highlights include case studies by QSuper, now renamed Australian Retirement Trust, AustralianSuper and Aware Super. There were also intensive discussions on income strategies as well as longevity solutions.
No doubt, the ‘soft vs no default’ debate drew passionate responses on the varying degrees of guidance required to implement solutions for superannuation members, particularly the dis-engaged ones.
