Superannuation funds are under pressure to provide better retirement products after a government review found people were not drawing on their savings over their retirement and instead left the bulk of their wealth as a bequest.
Treasurer Josh Frydenberg said the report clearly identified the need for a greater range of income products and confirmed that a lot of work was being done behind the scenes to prepare for this.
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Matthew Cranston is the United States correspondent, based in Washington. He was previously the Economics correspondent and Property editor. Connect with Matthew on Twitter. Email Matthew at mcranston@afr.com
