There’s a fatal flaw in the Callaghan retirement income review: its conclusion depends on people being able to buy a financial product that doesn’t exist.
Reading the breathlessly awaited Callaghan retirement income review, it’s hard not to think of that Grimms’ fairy tale where a hapless girl risks being put to death unless she is able to spin straw into gold.
Now, the challenge facing former Treasury heavyweight Mike Callaghan wasn’t quite this formidable, nor the punishment for failing as dire.
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Karen Maley writes on banking and finance, specialising in financial services, private equity and investment banking. Karen is based in Sydney. Connect with Karen on Twitter. Email Karen at karen.maley@afr.com
