Jun 24, 2014

While the government fiddles on FOFA, longevity and fees are the real problem

A senior Treasury figure has discussed the real challenges in retirement incomes policy -- longevity risk and high super fees, write Glenn Dyer and Bernard Keane.

Bernard Keane — Politics editor

Bernard Keane

Politics editor

One of Treasury’s most senior economists has made a subtle but telling intervention in the debate over the government’s efforts to gut the Future of Financial Advice consumer protections.

In a speech made to the Committee for Economic Development of Australia annual conference in Canberra yesterday, Treasury deputy secretary David Gruen, the head of Treasury’s macroeconomic group, without saying anything directly, exposed the charade-like nature of the government’s approach to retirement income and financial advice, which has been justified on the basis of reducing regulations and their cost.

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One thought on “While the government fiddles on FOFA, longevity and fees are the real problem

  1. AR

    Only an actuary, or similar bloodless bean-counter, could conceive of a term like “longevity risk“.

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