The Association of Superannuation Funds of Australia (ASFA) has launched a course in post-retirement for advisers and product issuers.
The ASFA Certificate of Post-retirement will help financial advisers and funds respond to the ageing population and the growing need for comprehensive retirement advice and products.
ASFA chief executive Pauline Vamos said the course will help mitigate issues arising from the ageing population moving accumulation and into retirement such as challenges to call centre staff, product developers, and financial advisers.
"It will also help spur innovation in the retirement income stream product market, by providing developers with a sound basis as to what this growing pool of retirees need and want from post-retirement financial products," she said.
"Expanding the knowledge base and lifting the skills of our teams will help deliver a better experience and better outcomes for fund members."
New research has shown Australians are retiring at their oldest age in over 50 years.
The $300 billion fund has announced the development of a new flexible lifetime income option in partnership with TAL.
As regulators spur funds to focus on Australia’s ageing population and overseas players voice their interests, professionals expect a boost in innovative activity in super.
Over half of Australians hope to live to 100 years, according to MetLife, and 90 per cent believe retirement should be redefined to account for a longer lifespan.
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