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Retirement Income Review submission

The Conexus Institute supports the objective of the Retirement Income Review, which is to develop a fact base of the current retirement income system. A well-compiled fact base can better inform future policy research.

In producing our submission we make the following observations:

One, Australia’s retirement system lacks an objective. Without an objective it is impossible to optimise outcomes, determine welfare benefits of policy changes, and participants in the system find it harder to understand their role. The development of a quantifiable objective for Australia’s retirement system would represent a great and enabling step forward.

And two, Australia’s retirement system is complex with many components which are intertwined. It is extremely difficult for consumers to navigate this complexity and have confidence in their retirement financial position. We believe much more can be done in the area of financial guidance. This could be achieved without the need for substantial policy change.

This submission consists of a summary paper which is supported by ten individual essays:

  1. Best practice in retirement modelling and assessment
  2. Illustrating the dangers of deterministic modelling… the case for reduced consumption to achieve a reasonable degree of certainty
  3. Consumption in retirement
  4. An integrated retirement system focused on household outcomes?
  5. The need for a retirement system objective
  6. The incoherent role of housing in the retirement income system
  7. Does the term ‘retirement income’ mislead?
  8. ‘Lottery effects’ in the superannuation system
  9. Exploring market failure in retirement solutions
  10. The critical shortage of quality financial advice and guidance

We are happy to further discuss our research in these or related areas.

Download Retirement Income Review Submission


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David Bell

The Conexus Institute

Annabelle Tian


Luke Zhou