Australia consults on introduction of compulsory annuitisation

Jonathan Stapleton
clock •

Australia is considering whether to force people to convert all or part of their pension benefits into retirement products to help manage longevity.

The interim findings of a government commissioned investigation into Australia's financial system led by former Commonwealth Bank of Australia chief executive David Murray - found the retirement phase of Australia's superannuation system is ‘underdeveloped' and ‘does not meet the risk management needs of many retirees'. The timing of this report comes as the UK government is looking to introduce a wide range of freedoms at retirement - and moving to the same sort of lump-sum system that Australia is now considering abandoning. The inquiry committee is now consulting on a range of opti...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

The importance of defining the roles within a SSAS

The importance of defining the roles within a SSAS

'Poor role discipline can create compliance, tax and fiduciary risk'

Caitlin Southall
clock 08 October 2026 • 4 min read
AJ Bell warns Budget could 'exacerbate' 76% pension lump sum withdrawal rate

AJ Bell warns Budget could 'exacerbate' 76% pension lump sum withdrawal rate

AJ Bell has called on chancellor John Healey to commit to a pension tax lock

clock 06 October 2026 • 2 min read
Rachel Vahey: Pension savers need stability, not another panic-fuelled tax raid

Rachel Vahey: Pension savers need stability, not another panic-fuelled tax raid

'Real-world consequences of allowing pension tax speculation to run unchecked'

Rachel Vahey
clock 05 October 2026 • 3 min read