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Published on 29 Aug 13
by NATIONAL DIVISION, THE TAX INSTITUTE
This presentation draws from the Institute of Actuaries’ White Paper titled the “Longevity tsunami” which addressed problems arising from the fact that people will be living a lot longer than they expect. The paper has contributed to a wide ranging community discussion on the implications of the so called “longevity problem” which has resulted in, among other things, Treasury adopting a more aggressive view on longevity, and changes in the tax status of various deferred annuity products.The presentation addresses various social and financial issues including:??
living to 120 will become the norm??
current issues for dealing with defined benefit pensions??
products that can protect against financial strains caused by longevity??
funding issues for a pension-only fund
??debate on who should carry the financial burdens of longevity.
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