Govt changes boost super assets by 16 per cent
The Federal Government’s changes to Australia’s superannuation regime will add 16 per cent to accumulated assets by 2020, according to research undertaken by Rice Warner Actuaries.
A seminar hosted at Parliament House this week was told that Rice Warner estimated that the superannuation market would be worth $2,343 billion by 2020 and that this, and other changes, meant that a greater number of Australians would live comfortably in retirement.
“However, increased longevity means that members will need to save far more for a comfortable retirement,” it said.
Rice Warner said that the shift to higher levels of self-sufficiency in retirement would assist the Government in diverting expenditure into the rapidly growing health sector as the baby-boomers enter their retirement years.
AUTHOR
Mike Taylor
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