Mercer actuary and global thought leader on superannuation and retirement income, David Knox, last night received the inaugural BT Retirement Innovation Award at the annual SuperRatings Awards.
The award recognises Dr Knox’s contribution to retirement outcomes and innovation through his work on the Melbourne Mercer Global Pension Index (MMGPI) and the development of retirement income solution Mercer LifetimePlus.
Dr Knox, the national leader of Mercer’s research practice, has enjoyed an extensive career across the financial services and academic sectors including roles as Foundation Professor of Actuarial Studies and Director of the Centre of Actuarial Studies at the University of Melbourne; independent Board member of the Australian Prudential Regulation Authority (1998 to 2003); and President of the Institute of Actuaries of Australia (2000).
Mercer’s Product and Innovation Leader, Guy Thorburn, paid tribute to Dr Knox’s achievements in the superannuation industry, particularly his contribution to improving retirement outcomes for Australians.
“As one of the world’s preeminent thought leaders on superannuation and retirement income, David is at the forefront of efforts to understand and combat the financial impacts of increasing life expectancies and an aging population,” said Mr Thorburn.
“Through his authorship of the MMGPI, amongst an extensive library of research, David’s work has long been a valuable resource for policy makers and financial services industries across the world.”
Mercer LifetimePlus, an investment option that is added to an account-based pension, was a finalist in the Best New Product category of the SuperRatings Awards. Lifetime Plus is a longevity pool where the risk of outliving savings is shared among other retirees. With no third-party shareholder and no insurance premiums, all profits go to the participants.
The SuperRatings awards are based on a comprehensive analysis of over 320 superannuation choice products covering in excess of $1.2 trillion in superannuation savings on behalf of 22 million member accounts.
Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and performance of their most vital asset – their people. Mercer’s more than 20,000 employees are based in more than 40 countries and the firm operates in over 130 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy and people. With 57,000 employees worldwide and annual revenue exceeding $13 billion, Marsh & McLennan Companies is also the parent company of Marsh, a leader in insurance broking and risk management; Guy Carpenter, a leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a leader in management consulting. For more information, visit www.mercer.com.au Follow Mercer on Twitter @MercerAu