Nudges, not legislation will drive people to save more for retirement

superannuation, retirement, retirement income, The Conversation, Nudges, not legislation will drive people to save more for retirementGetting Australian workers to save more in order to become more self-reliant in retirement is a policy idea most people understand.

Over time there is increasing pressure on government funding of the age pension.

In 2013-14, around 70% of Age Pension eligible Australians were receiving the pension, with 60% receiving the full-rate pension. At the same time, age pension costs are projected to increase from 2.9% of GDP in 2014-15 to 3.6% of GDP in 2054-55. This is significant cost to the Australian economy. Read more...

Living longer means it’s time Australians embraced annuities

The Conversation, superannuation, Living longer means it's time Australians embraced annuitiesFew people are likely to be interested in buying an expensive financial product which offers little return, particularly when that return is based on their life expectancy. But annuities, which provide a series of regular payments until the death of the annuitant in return for a lump sum investment, deserve closer attention.