A new committee chaired by prominent public servant Michael Keating has been tasked with investigating the adequacy and sustainability of the retirement income system.
The Committee for Sustainable Retirement Incomes (CSRI) will be launched to the public on 2 June at the Inaugural Sustainable Retirement Incomes Leadership Forum.
According to the CSRI website, the committee is an “independent, bipartisan, non-profit organisation committed to improving the adequacy and sustainability of the retirement income stream".
The CSRI is chaired by Michael Keating, former secretary of the Department of the Prime Minister and Cabinet.
The committee comprises public policy leaders Robert Officer, Elana Rubin, Andrew Podger, Vince FitzGerald, and Patricia Pascuzzo.
“The CSRI pursues urgent and much needed reform by injecting an independent voice to better inform the policy debate,” the committee said on its website.
According to the committee, its objectives are: furthering bipartisan support for a retirement income policy framework and to improve superannuation tax concessions to help meet retirement income objectives.
The group will also seek to “encourage efficiency and competition in the superannuation sector during the accumulation phase, including consideration of the compulsory contribution rate”.
Moreover, the CSRI will “seek to reduce complexity in the components of the retirement income system (age pension, taxation and regulation of superannuation) and interaction among the components”.
The two-day forum will feature keynote addresses from former Future Fund chairman David Murray and MP Chris Bowen, with assistant treasurer Josh Frydenberg said to be invited.
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