POWERED BY MOMENTUM MEDIA
Retirement income market needs new strategies
Private market providers across Asia-Pacific could potentially fill gaps existing from government sponsored retirement systems and employer-sponsored pension arrangements, according to global consulting firm, Milliman.
A survey of insurance companies and financial institutions conducted by Milliman across eight countries showed consumer demand, product development, and opportunity for growth were amongst the key factors most affecting the Asian retirement income market.
Milliman South-East Asia and India managing director, Richard Holloway, said new perspectives on ways to capitalise were coming from technology employed in Australia’s retirement sector, and potential interest from private providers.
“Across Asia-Pacific, there is the potential for private market providers to complement and fill gaps that exist from government sponsored retirement systems,” he said.
“The development of robo-advice has begun to gain traction in the superannuation industry in Australia and we expect the same to occur in Asia in the near future.”
Holloway said other nations across the Asia-Pacific region were likely to follow after Australia’s superannuation system which had leveraged technology effectively.
“Technology advancements have now made it possible for financial institutions to provide consumers with tailored investment strategies and product solutions to achieve their goals in retirement,” he said.
More than 60 per cent of respondents to the Milliman survey believed financial advice was needed around the selection of features in a retirement income product, while most believed their national retirement system’s provisions were inadequate.
Recommended for you
Sally McManus, secretary of the Australian Council of Trade Unions (ACTU), commented on the proposal after former prime ...
Strong performance across domestic equities and infrastructure assets has seen the fund achieve solid returns for the 2024-25 financial year.
AMP has delivered another year of double-digit gains across its flagship superannuation options, with its MySuper members reaping the benefits of a disciplined investment strategy amid lingering geopolitical and market volatility.
MLC Asset Management has posted strong superannuation returns for the 2025 financial year, crediting steady asset allocation and broad diversification for navigating a noisy investment landscape.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
