One in four Australians will outlive their retirement savings by more than 10 years. Longevity risk - the risk of outliving your savings - is one of the biggest economic and social issues facing Australians and most don't have a plan to combat it. Until now, Australians have had limited choice of investment options that pay an income in retirement for the rest of their lives. The game has changed.
Mercer has introduced a game-changing solution to Australia's retirement income market; a new investment option within an account based pension designed to protect Australians against longevity risk. Mercer LifetimePlus is more cost-effective, accessible, and transparent than anything else on the market.
Guy Thorburn, leader of Mercer's retirement business in the Pacific, talks to Financial Standard's Mark Smith, about how the product works; why it is a genuine investment alternative for retirees and how it can strengthen the relationship between advisors and their clients.
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