Government considers ways to improve income streams

Retirement Income Streams - deferred lifetime annuities (DLAs) and minimum pension draw-down paymentsThe Government has released a discussion paper which raises the option of changes to the minimum annual pension payments and the introduction of new types of income streams to improve incomes in retirement.

With the release of the discussion paper, Review of Retirement Income Stream Regulation, Acting Assistant Treasurer Mathias Cormann says the Government is delivering on the election commitment to “review regulatory barriers restricting the availability of retirement income stream products”. At a time that “Australians are looking for more options to better manage their retirement income” Cormann says that the Government wants to “encourage greater product innovation” in retirement income streams. Read more...