AUSTRALIA - The number of corporate funds is expected to decline substantially by 2022, and there may even be none remaining, according to a report from Rice Warner Actuaries.
Rice Warner noted some of the growth had been abnormal and it would be wrong to extrapolate it into future years. However, added there was clearly an underlying level of growth which would grow the market more than expected previously.
Rice Warner estimated over the 15 years to 30 June 2022, the total superannuation market would reach $3.2trn, of this $1.2trn or 39% of the market would be held in post-retirement assets.
This week's edition of Professional Pensions is out now.
The government is in talks with the UK and Irish pensions regulators over how to protect members of cross-border schemes in the event of a no-deal Brexit.
The equalisation of guaranteed minimum pensions (GMPs) is at least two years away from being completed, and could take longer than four years for some schemes, a poll has found.
The Pensions Regulator will consider if schemes should be required to have professional trustees and assess the case for greater regulation of administrators and system providers, PP can reveal.