The Future of Super
Diane Somerville and Peter Larsen
This presentation examined the current growth trends in the Australian superannuation industry paying particular attention to the post retirement segment and the impacts of the ageing population. The presenters examined the amount average Australians are likely to have in retirement and look at what this means for members' living standards in retirement, including continued heavy reliance on the age pension.
The presenters also considered potential changes to the superannuation industry to help facilitate improved retirement outcomes for Australians.
About the presenters:
Diane has more than 20 years' experience in the superannuation and financial services industry. Her superannuation experience includes providing consulting advice to a range of superannuation funds, including actuarial investigations and statutory actuarial certificates, advice on benefit design, asset-liability studies, transfers to master trusts, and also strategic advice to employers on provision of employee benefits and company accounting disclosure requirements. Her clients have included many of Australia's largest superannuation funds and corporations in relation to their superannuation and employee benefit programs.
Peter joined Deloitte Actuaries & Consultant's Melbourne team in February 2008. He has 20 years of experience across financial services both in consulting and in industry focussing on superannuation, insurance and wealth management.
Peter is an experienced actuary and has significant experience in traditional actuarial roles, modelling and valuation skills as well as broader strategic projects.
Prior to joining Deloitte he spent three years at a global financial services company working in a number of group finance roles with his last role having responsibility for embedded value reporting both internally to management and externally to market. He has a very good understanding of life insurance profit and value reporting requirements and a deep understanding of business/management decisions on shareholder value.