Challenger Solutions Group general manager Simon Brinsmead has taken an unconventional career path. While not recommending others follow in his footsteps, there s much to be admired about his unabashed individualism and pursuit of the interesting. Andrew McKean writes.
The difficulty of designing products for decumulation is superannuation funds are unable to accurately predict how long members will need the funds, according to a panel, meaning members fear running out of money.
While greater availability of retirement income products is a positive, the three objectives of these products as set out in legislation don t necessarily reflect members needs or desires.
Addressing longevity risk in the Retirement Income Covenant is a tougher nut to crack for superannuation funds than the mandate for funds to mitigate investment and inflation risk to retirement savings.