Investing in the retirement years

Australian superannuation funds have an obligation to assist their members to live securely in retirement.  Most have good processes for investing their members’ benefits during the accumulation phase before retirement.  However, no fund has yet set up a proper structure to help members prepare for retirement.  Nor do funds assist pensioners to manager their benefit during the years when their income from work has ceased and the retirement benefit is gradually reduced through pension draw-downs.