13 December 2018

Treasury has released a consultation paper seeking feedback on proposed disclosure metrics for retirement income products, including their presentation and calculation.

The paper proposes a new disclosure document in a fact sheet format.

The retirement income fact sheet would highlight the following factors:

  • the amount of income the product would be expected to provide;
  • the likelihood that the income may fall short of the expectation for a given period;
  • the degree of protection the product provides from running out of money; and
  • the level of access to the underlying capital or for lump sum withdrawals.

This fact sheet would not remove or replace the need for Product Disclosure Statements and would be required for all retirement income products.

Submissions on this paper are due by 28 March 2019.

Further information

Treasury Retirement Income Disclosure Consultation Paper, 10 December 2018

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