Deloitte talks up superannuation advice

In outlining projected forecasts for the Australian superannuation sector, Deloitte has spoken of the important role financial advisers play in helping clients plan for retirement.

Following the release of the Dynamics of the Australian Superannuation System – the next 20 years report – which forecasted that the superannuation asset pool would reach $7.6 trillion by 2033 – Deloitte superannuation leader Russell Mason told ABC News 24 planners will continue to play a key function in the future development of the system.

“I would strongly encourage people to discuss these issues [of superannuation] with a financial planner,” Mr Mason said.

Earlier, at the launch of the paper, Mr Mason said financial advice also played an important role in solving the problem of longevity risk.

“We have a system which everyone has invested a hell of a lot of money in, with the aim of providing some sort of adequate income in retirement for people,” he said.

“In our report we raise a number of ways in which government and the industry can act to address that. I don’t think there’s one answer, I think there’s going to be the sum total of a range of answers.

“The facilitating the access to quality and independent advice through your working lifetime is part of the answer.”

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