Retirement Incomes

The retirement income system - based around the three pillars of superannuation, the aged pension, and voluntary retirement savings – should provide adequate retirement incomes and remain affordable with an ageing population and declining proportion of people in the workforce.

Potential changes must be considered holistically, with transitional arrangements that account for the long-term horizons over which retirement decisions are made.

The Business Council of Australia strongly supports a comprehensive review of the retirement income system and development of reforms focused on improving the capacity of the system to meet community needs in the 21st century, not simply to achieve budget savings.

The BCA Secretariat contact for retirement income issues is Adam Boyton, Chief Economist.