Australia's Financial System Inquiry (FSI) has concluded the best way to improve income in retirement is to force trustees to pre-select a retirement income product for members.
A review into Australia's superannuation system has recommended trustees should pre-select a "comprehensive income product" to provide members with longevity protection and a stable income stream in retirement.
Workplace savings schemes in Australia & New Zealand
The critical working regulations employers must comply with
What large-scale super schemes can teach the UK
Andy James looks to Australia for a preview of pensions flexibility
The UK pension system has improved over the last year, according to the Melbourne Mercer Global Pensions Index, but could lose ground after retirement restrictions are lifted.
Australia is considering whether to force people to convert all or part of their superannuation benefits into retirement products to help manage longevity.
Jack Jones talks to Jeremy Cooper about the problem Australia has getting its world class saving system to deliver retirement incomes.
This week, Buzz respondents were adamant that investment consultants should be regulated.