Submission

Friday, 29 March 2019

Retirement Income Disclosure Consultation Paper

Description: AIST does not support the requirement to mandate CIPRs as a default retirement income product to members. AIST supports effective disclosure and continuing efforts to simplify and improve disclosure for members, and supports the initiative of Government to ensure that this extends to retirement income products. AIST explains that the use of retirement income fact sheets must not form a replacement for choice product dashboards and takes this opportunity to call for a proper evaluation of the effectiveness of simplified standardised disclosure. Keywords: superannuation, retirement income stream, disclosure, projections, product dashboards, choice, mysuper, ciprs, Overview category: sustainability adequacy & longevity; regulatory framework;