Treasurer Jim Chalmers has flagged moves to require superannuation funds to work harder to deliver steady income for the millions of Baby Boomers entering retirement and to explain why annuities have not been taken up with “sufficient enthusiasm”.
Former Labor prime minister Paul Keating has also acknowledged that the equities-focused compulsory super system he designed in the 1980s and 1990s must pivot to investments that deliver fixed income to meet demographic and inflation challenges.
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Joanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023. Connect with Joanna on Twitter. Email Joanna at jmather@afr.com
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
