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.
Barry is a Principal of Rafe Consulting
and advises senior management of financial services firms on
strategy, governance and high- level operational issues. Barry
is also a presenter on governance at the Australian Institute of
Company Directors. Barry is a past president of the Actuaries
Institute and has held senior consulting positions as a strategy
partner at Accenture, was and head of the financial services
practice at Trowbridge Consulting. Barry has also held senior
management positions with AMP and Mellon Bank.
- Current at
31 May 2013