From www.themandarin.com.au: The Grattan Institute has proposed government annuities to enhance Australia’s superannuation system, addressing the complexities retirees face in converting accumulated savings into secure income.

Their key recommendations include encouraging retirees to annuitise 80% of superannuation savings over $250,000 and establishing a free retirement guidance service to assist with age pension applications.

These proposals aim to help meet the retirement system’s objective of providing a dignified income in retirement, while addressing existing risks and complexities.