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New pensions index established
Melbourne has sought to place itself on the global pensions landscape in league with Mercer via the establishment of a so-called Melbourne Mercer Global Pension Funds Index.
The initiative was announced at the Melbourne Financial Services Symposium, where the Victorian State Financial Services Minister, John Lenders, said the index would compare the private and public superannuation or pension models of at least 10 countries.
The index will be underwritten by the Victorian Government via a $450,000 grant.
The minister said the index would highlight those countries that had superannuation or pension models in place that were innovative and meeting the needs of people and would represent the first time that national retirement income systems had been compared through the use of an index.
He said it would use a basket of countries from the Americas, Europe and from the Asia-Pacific region, including Australia, and two sub-indices would be reported for each country
AUTHOR
Mike Taylor
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