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All talk but little action

  • On 06/03/2020
International Women’s Day is on Sunday 8 March, and it is worthwhile reflecting on the progress made by women in building their superannuation accounts. We all know the reasons for females retiring with lower income than males: Lifecycle events – including bearing and raising children, and supporting aged parents later in their careers. Barriers – […]
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Does mandatory superannuation add to National Savings?

  • On 02/03/2020
The current Retirement Income Review has generated more news about superannuation.  In the perennial debate about the virtues of our mandatory superannuation system, some commentators have questioned whether the Superannuation Guarantee (SG) regime increases Australia’s national savings, or simply cannibalises existing savings. The debate lies in two parts – do people save more of their […]
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Rice Warner’s submission to Retirement Income Review

  • On 12/02/2020
Rice Warner’s latest report has been prepared in response to a call for submissions from the Retirement Income Review (Consultation Paper, November 2019). Given the many strengths of the system, it does not need major reform.  However, there are areas where the system could be modified to provide more efficient and effective outcomes.  The recent […]
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The weakness of product disclosure

  • On 30/01/2020
Last year, Karen Chester, the Australian Securities and Investments Commission (ASIC) Deputy Chair, released a report compiled jointly by ASIC and the Dutch Authority for Financial Markets.  She used the opportunity to challenge the financial markets about whether disclosure on documentation was working efficiently for consumers, stating: “Disclosure can and has backfired in unexpected and […]
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Michael Rice receives Order of Australia

  • On 26/01/2020
The directors and staff at Rice Warner would like to congratulate Michael Rice for being awarded an Officer of the Order of Australia, “for distinguished service to business and economics, particularly to the actuarial profession, and through advisory roles”. Michael is a leader within the financial services industry and is well known for his tireless […]
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