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Insurance through superannuation

  • On 20/04/2016
Rice Warner research highlights the extent that superannuation funds are critical to providing life insurance cover for a high proportion of employees. Our statistics show that more than 70% of Australian life insurance policies – more than 13.5 million separate policies – are held through superannuation funds. Each year, there are about 17,000 disability benefits […]
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Superannuation objectives

  • On 13/04/2016
Objective(s) of superannuation Rice Warner is broadly supportive of the Financial System Inquiry’s (FSI) recommended primary and subsidiary objectives of superannuation but with some reservations and suggestions. We suggest that the primary objective is extended to cover “adequacy” of retirement income and point to the significant omissions in the subsidiary objectives of the roles of […]
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Strategies for Surging Retirement Dollars

  • On 06/04/2016
There is a mammoth demographic change now taking place in superannuation as waves of baby boomers near or enter retirement. Rice Warner forecasts that the industry fund sector will be major beneficiaries as its share of superannuation retirement assets will multiply more than seven times over the next 15 years from just 2.5% to almost […]
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OUR REAL SUPER SAVINGS

  • On 31/03/2016
If all super fund members (ignoring pensioners) consolidated their multiple accounts, Rice Warner calculates that the average account balance of $50,300 as at June 2015 would rise to approximately $90,000 – an increase of 79%. Out of a total population of 23.8 million, 17.7 million Australians hold at least one account within the Australian super […]
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Pre-Budget myth breaker: we are not a lump sum society!

  • On 23/03/2016
The Government proposes to adopt the Financial System Inquiry’s primary objective of superannuation which is “to provide income in retirement to substitute or supplement the Age Pension.”   While we agree with the sentiment, it has been misinterpreted by several uninformed commentators.  The persistent myth concerning superannuation lump sums makes it more difficult to have […]
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