ASFA calls for lifetime market linked pension

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AUSTRALIA - The Association of Superannuation Funds of Australia (ASFA) has called on the government to establish a lifetime market linked pension, available to all funds, that caters for pensioners that live beyond their life expectancy and which allows a smoothing of income payments.

In a submission to the government’s review of pension provision in small superannuation funds, ASFA said the desire of small funds to issue defined benefit pensions was understandable. “The desi...

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