Simplifying super to get the best retirement outcomes 

The Retirement Income Covenant was introduced to require superannuation fund trustees to develop retirement income strategies and thereby provide better outcomes for Australian retirees.

Yet almost one and a half million Australians aged 65 and over have an accumulation account, including more than 750,000 with a MySuper account. Clearly the system does not yet have a strong focus on the provision of retirement incomes.
To provide the best outcomes for future Australian retirees, this paper recommends that there needs to be legislative change to simplify the disclosure requirements and make it easier for superannuation trustees to assist individuals to transfer into a retirement income product.

Simplifying super to get the best retirement outcomes

Learn more about Mercer's recommendations to improve retirement income outcomes

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