Chair HESTA, VicHealth & AIHW; Director Dexus & Lifestyle Communities; Former Labor Politician; Advocate for women and against tobacco
Proud to be part of the next generation of superannuation leaders committed to ensuring superannuation policy is stable, effective and equitable. Millions of Australians are relying on us to deliver, and to keep building on an amazing history of foresight and innovation for working people during employment and retirement.
Death is a certainty, but what happens to your superannuation when you die? This blog post breaks it down for you. #wealthfactory #wealthfactoryaustralia #wealthfactorytoowoomba #toowoomba #wealthfactoryblog #financialplanning #financialadvice #retirementplanning #superannuation
After reading this recent article from Knox, I find myself reflecting on the simplicity and efficacy of solutions that sometimes lie right before us. In the context of the superannuation system and the quest for a robust retirement income framework, it seems that a straightforward yet impactful approach could lie in harnessing the power of AI technology. AI has the remarkable potential to extend the reach and efficiency of our existing advice workforces by 5-6 times. This isn't just about scaling advice; it's about making it more accessible, more personalised, and ultimately more effective. By integrating AI-driven advice and educational tools, we could address the retirement income dilemma in a way that is both innovative and practical. Education and advice are key to empowering individuals in their retirement planning. With AI, we can democratise access to high-quality advice, ensuring that more people can make informed decisions about their superannuation and retirement income. As Australia continues to navigate these legislative changes and strive for an A-grade retirement system, integrating technology like AI could be the game changer we need. It's not just about compliance with the Retirement Income Covenant (RIC) but about fundamentally enhancing the way we engage with and support retirees and future retirees. It's an exciting time for the industry, and we are looking forward to continuing to support our clients in shaping their retirement income strategies & implementing solutions.
The three major legislative changes to superannuation are unlikely to be the ‘big bang’ needed to revolutionise the super system, according to Mercer’s David Knox. https://lnkd.in/gXmz5wpF
The annual superannuation concessional contribution and non-concessional contribution caps are due to increase from 1 July 2024. Prosperity Financial Adviser Graham Southgate outlines the impact of the proposed changes and opportunities on a number of superannuation contribution strategies. #SuperContribution #Superannuation #ConcessionalCapsUpdate
