Better retirements through better systems and better understanding

Helping to increase the effectiveness of Australia and New Zealand's retirement income systems so that people can better prepare and provide for themselves in retirement. This includes increasing individual saving rates through superannuation, and ensuring that people seek financial advice so as to maximise their retirement income.

• The Australian and New Zealand retirement income arrangements are based on a range of measures that provide people with a choice in how they wish to save for their retirement. For example, Australians can save for their retirement through a range of mandatory and voluntary saving arrangements.
• Nevertheless, there is a need to ensure that these policies are effective in delivering the benefits of higher retirement incomes to people and encourage a competitive financial services market.
• Most importantly, with greater emphasis on individual choices and responsibility for retirement savings, it is imperative that people get advice so that they are able to understand the range of saving measures available to them, and are able to make decisions that will maximise their financial opportunities and therefore their retirement income.
• This is why financial literacy and access to quality advice at an affordable price are key areas of public policy to AMP. AMP undertakes research into these, as well as other financial issues, and engages with the financial services industry and all areas of government to raise awareness and encourage debate on these important topics. AMP has also made submissions to several recent Parliamentary inquiries.
• For more information:
  - AMP.NATSEM reports
  - AMP Superwatch Survey (NZ)
  - Making choices easy
  - Financial literacy taskforce