POWERED BY MOMENTUM MEDIA
Women’s outcomes left out in Retirement Income Review
The Retirement Income Review’s terms of reference needs to include women’s outcomes, Women in Super (WIS) believes.
WIS chair, Cate Wood, said the report needed to look at how policy settings along with the structural, economic, social, and demographic drivers were leaving increasing numbers of women without economic security in retirement.
“There is a crisis in women’s retirement happening all around us,” Wood said. “Single retired women are the fastest-growing group of people becoming homeless in this country.
“The rate of poverty for retired women also continues to increase, which is unsurprising given women retire on average with just over half the superannuation savings of men.”
The terms of reference were published last month by Treasurer Josh Frydenberg and cover how the retirement income system supports retired Australians, the role of each pillar in supporting Australians, distributional impacts across the population and the impact of current policy settings on public finance.
Recommended for you
The Federal Court has ordered AustralianSuper to pay $27 million for failures to address multiple member accounts.
The country’s fourth-largest fund is targeting the “missing middle” of members with a new digital advice service in partnership with Ignition Advice.
The prudential regulator confirmed it is considering BUSSQ’s Federal Court appeal.
The Albanese government has put forward a bold proposal to tackle the challenges of Australia’s swelling retirement pool, in an effort to allow superannuation funds to play a more active role in shaping members’ retirement outcomes.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
32.68 3 y p.a(%)
2
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.78 3 y p.a(%)
3
Spire Oaktree Opportunities XI First Close USD
31.36 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
30.80 3 y p.a(%)
5
Fidante Credit Suisse Global Private Equity
28.31 3 y p.a(%)
