Submission Federal Treasury Retirement Income Covenant
As the position paper on the Retirement Income Covenant notes, the recent Retirement Income Review suggested that the retirement income system providing income in retirement is the fundamental role of compulsory superannuation, but that 30 years since its introduction “the retirement phase of superannuation remains under-developed”. There is, the position paper says, “substantial room for improvement in how the superannuation system delivers adequate incomes in retirement”.