Find out how you can stay on track, before it’s too late

The government recently legislated the long-awaited Retirement Income Covenant when the Federal Parliament passed the Corporate Collective Investment Vehicle Framework and Other Measures Act 2022 (the Act). The Act inserts the covenant as a new statutory covenant in the Superannuation Industry (Supervision) Act 1993.

 

The covenant requires all APRA regulated super funds to have a documented strategy to identify the retirement income needs of fund members, and to develop a plan to service those needs, in place before the July 2022 deadline.

 

Now is the time for fund trustees to ensure they are on track to meet the 1 July 2022 deadline. Find out what this all means and how you can start looking to design and execute on retirement strategies with our easy-to-use checklist. 

What will super funds be required to do?

Prepare a retirement income strategy for all their members, including the possibility of different strategies for different cohorts of members.

Consider the Age Pension and tax implications for their members.

Consider how to assist their members to maximise their retirement income and to manage risks during retirement that may affect their income.

Review their retirement income strategy on a regular basis.

Designing your retirement income strategy 

 

 

To help support you in designing and executing your retirement income strategy, Mercer has developed an innovative framework based on our in-depth global knowledge of superannuation. 

 

 


Contact us to find out how Mercer can help you build brighter futures for your members.

Tim Jenkins, FIAA
Senior Actuarial Consultant

Angie Hartl
Retirement Income Specialist

Clayton Sills
Superannuation Client Segment Leader


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