The financial system has been moulded by the post-WWII generation. As the silver tsunami of retirements is upon us, we should expect it to be entirely reshaped.
In April 2017, a retired schoolteacher from New Jersey, Kathleen Casey-Kirschling made history. Born at midnight on January 1, 1946, she was the first Baby Boomer to be mandated, as required by United States law when she reached the age of 70 and a half.
Australia’s first Boomer hasn’t been identified and tracked like Casey-Kirschling. But this tipping point moment arguably matters more. The pool of pension assets relative to the size of the economy is the largest in the world and a large share of those assets belong to members on the verge of retirement.In July 2022, the retirement income covenant that requires super funds to develop a retirement income strategy for their members came into effect.
It’s a matter that will be discussed at length later this week as some of the nation’s political leaders, regulators, financiers and lenders will gather to discuss how more of Australia’s pension capital can be deployed to better serve the economy.The forum is the annual superannuation lending roundtable hosted by Visy’s Anthony Pratt andto encourage super funds to engage in direct lending to the economy.
In the property sector, there’s a realisation that debt financing a project or an asset is far better relative to the risk . The Milliman Pension 100 index which tracks the top 100 US corporate pension plans shows they’ve swung from a large deficit position to a surplus. Thisas an increase in the discount rate used to value future liabilities has increased from 3.50 per cent to 5.25 per cent since 2017.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
‘I am evil’: British nurse guilty of murdering seven newborn babiesLucy Letby was convicted of killing five baby boys and two baby girls at the Countess of Chester hospital and attacking other newborns in 2015 and 2016.
Read more »
Trio of curious lion cubs given namesSee baby animals as they are welcomed to zoos around the world.
Read more »
‘I am evil’: British nurse guilty of murdering seven newborn babiesLucy Letby was convicted of killing five baby boys and two baby girls at the Countess of Chester hospital and attacking other newborns in 2015 and 2016.
Read more »
‘I am evil’: British nurse guilty of murdering seven newborn babiesLucy Letby was convicted of killing five baby boys and two baby girls at the Countess of Chester hospital and attacking other newborns in 2015 and 2016.
Read more »
Doctors were forced to apologise for raising alarm over Lucy Letby and baby deathsGuardian investigation also reveals Countess of Chester hospital executive feared contacting police would ‘damage reputation’
Read more »
The second-hand baby products putting children at riskSecond-hand baby items may be a bargain, but parents should keep updated on product recalls, safety standards, and wear-and-tear guidelines to keep their young ones safe.
Read more »