Australian distributors upgrade structuring capabilities
Platform for profit
The right platform: Australian life and pensions distributors are seeking to develop product platforms
The ‘superannuation guarantee’, introduced by the Keating administration in 1992 with the aim to ensure retirees have sufficient retirement income, has transformed the Australian pension market. It is now the fourth largest in the world behind the US, Japan and the UK, according to Towers Watson’s Global Pension Asset Study 2011. The report found Australians held 4.8% of all pension assets globally with $1.26 trillion in assets under management in 2010 – representing 103% of Australian gross
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