How should trustees address the Retirement Income Covenant?BY KATRINA BACON, CECILIA STORNIOLO | FRIDAY, 22 APR 2022 2:22PM As Australia's population ages, there is a greater need for superannuation funds to address the needs of the retired and retiring population. According to APRA's Annual ... Get articles like this delivered to your email - Sign up for the free weekly newsletter  More Articles |
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Where are financial planners in this process? We're massively busy helping our retirees and pre-retirees achieve their outcomes and through regular reviews make sure we stay on track. I am very interested to see how this will roll out. So far I cannot see how this is NOT financial advice, nor do I understand why trustees are suddenly expected to provide a range or retirement options to members without becoming liable for advice that may have seemed appropriate at the time but looks different 10 or 20 years later. So will this force product providers to have their own tied advice team? If so, I see another Royal Commission down the track with another vertically integrated sales force on the ropes.