The recently released Actuaries Institute review into Australia’s Retirement income for Australians, titled “Securing Adequate Retirement Incomes for an Ageing Australia” was conducted over the course of the past year and involved more than 200 actuaries who provided thorough research and recommendations.

The review assessed the current superannuation guarantee level and what the optimal level of superannuation should look like based on an individual’s personal circumstances in order to achieve a desired level, use of the family home in retirement, how advice can result in better use of superannuation savings and the Age Pension means test. The review concluded “Australia’s retirement system should be fairer, simpler and more efficient while the role of guidance and advice should be enhanced”.