From 1 July 2022, superannuation funds are required to have a retirement income strategy in place. The retirement income strategy outlines how a superannuation fund intend to assist their members who are either retired or are approaching retirement to achieve three objectives:
- Maximise expected retirement income
- Manage expected risks (including longevity risks, investment risks and inflation risks) to the sustainability and stability of expected retirement income over the period of retirement, and
- Have flexible access to expected funds during retirement.
Macquarie Investment Management Limited (MIML), as trustee for the Macquarie Superannuation Plan, has this strategy in place. View a summary of our retirement income strategy.
In preparing the retirement income strategy, MIML has considered the likely retirement income needs of its members and how we can assist members in meeting those needs, whilst continuing to provide them with choice and flexibility in how they manage and invest their retirement savings.
MIML is conscious of the role and importance of financial advisers in helping members achieve their financial goals leading into and during retirement. MIML’s retirement income strategy has taken this relationship into consideration, while also balancing the needs of those members who do not have a financial adviser.
MIML’s strategy therefore aims to provide assistance to members and help them maximise their retirement income. It also helps members manage the various risks they may face and provide access to capital during retirement. Where members have a financial adviser, this assistance is also aimed to support the adviser/client relationship.