The two day Colloquium of Superannuation Researchers at UNSW Australia has examined how workers save for their later years. It brought together superannuation retirement researchers, policy makers and relevant industries to share current research in the area.
The theme for this year’s conference was to look at ways to help individuals make better superannuation decisions.
Professor Hazel Bateman, the Head of School of Risk and Actuarial at the UNSW Business School, said “It’s a very sensitive issue, it’s your livelihood after you’ve stopped working and so it’s something of interest to everyone and everyone wants to try and get the most out of it.”
Local and international academics along with experts in their field were informed about current problems within the sector by an industry panel at this year’s Colloquium, which was a key part of the event. They discussed member behaviour and what their own engagement initiatives and research has shown them about implications for product development, information provision and member advice.
The panel, comprising Mr Martin Stevenson of First State Super, Mr David Constable of Cbus Super and Dr Suzanne Doyle of State Plus, discussed the work their funds are doing with their members to deliver clear information about their superannuation options.
“It was particularly reassuring to hear about State Plus’s member-focused approach to retirement financial planning presented by Dr Doyle," said Professor Bateman.
Professor Bateman is looking forward to next year’s colloquium. “We haven’t firmed on a topic for next year, but one of the things I’m thinking about is the retirement phase and looking at ways to design policy on how to draw down their assets, so their assets live as long or longer than they do and they’ve got enough resources to pay for age care.”