Over 90 representatives from the wider research community, government and industry attended the 26th Colloquium on Pensions and Retirement Research, which was co-hosted by CEPAR and the School of Risk & Actuarial Studies in the UNSW Business School.
The Collqouium, held on 2-3 July at UNSW, included high-level talks and presentations on pensions, retirement and inequality, including a keynote lecture on Wealth Inequality and Financial Literacy by world renowned pension expert Olivia S. Mitchell, Professor at the Wharton School of the University of Pennsylvania and CEPAR Partner Investigator.
Keynote speaker Professor Mitchell argued that older households must take responsibility for their financial well-being – both during their work lives and in retirement. Yet financial markets are becoming more complex, as the set of instruments available for saving and investment expands. She explained how financial knowledge can be a powerful driver of wealth inequality in a world of uncertainty and imperfect insurance, since financial knowledge allows people to better allocate their lifetime resources.
The colloquium also featured a panel discussion on the new future for financial advice, and provided a forum for academics, government and industry representatives to discuss the latest research on pensions, superannuation and retirement.
The presentations are available online.
Our 26th Colloquium on Pensions and Retirement Research at @UNSWbusiness will feature a keynote lecture on #pensions and #inequality by world renowned pension expert @OS_Mitchell. View the full program here and register now: https://t.co/bQewrUtdrb pic.twitter.com/hgcZCImXnp
— CEPAR (@CEPAR_research) June 12, 2018
@OS_Mitchell keynote at #pensions and #retirement colloquium: financial knowledge accumulation is incentivised among the rich, which exacerbates inequality. Fin education in high school can offset pic.twitter.com/XJvHHXj48t
— CEPAR (@CEPAR_research) July 2, 2018
@OS_Mitchell: wealthy people get better returns, much of which may be down to better financial knlwledge. Also, those that have lowest fin knowledge and need financial advice the most are least likely to seek it #pensionscolloquium2018
— CEPAR (@CEPAR_research) July 2, 2018
Delighted to talk about #FinancialLiteracy @UNSW! @pensionresarch https://t.co/h9DIR7JZoI
— Olivia S. Mitchell (@OS_Mitchell) July 2, 2018
@RiceWarner's Richard Dunn presents modelling showing that as super savings will increase the % of people on the age #pension will decrease more than previously modelled by treasury #pensionscolloquium2018 pic.twitter.com/TcrpqX7hmk
— CEPAR (@CEPAR_research) July 2, 2018
@GrattanInst's @BrendanCoates argues that working age people struggling more than older people and that increases in #superannuation contributions to 12% won't help. pic.twitter.com/u2eiPrUwZw
— CEPAR (@CEPAR_research) July 2, 2018
Boosting behaviour through method of choice super balance balance communication matters #pensionscolloquium2018 #cepar pic.twitter.com/k5hyyzX8xH
— Stephen Fay (@StephenFayJ) July 2, 2018
Shang Wu from First State Super and @CEPAR_research presents modelling that shows constant adjustment in consumption over #retirement (eg. with rules based #finadvice) depending on ongoing returns can improve outcomes #pensionscolloquium2018 pic.twitter.com/YDS8YDlfAX
— CEPAR (@CEPAR_research) July 2, 2018
Xiao Xu from @CEPAR_research presents modelling that helps explain both housing and super asset accumulation, or lack thereof, and their interactions over the lifestyle #pensionscolloquium2018 pic.twitter.com/75IJ1zrPfi
— CEPAR (@CEPAR_research) July 2, 2018
Hazel Bateman presented on potential demand for reverse mortgages in China (in a survey experiment setting). Surprising level of interest! pic.twitter.com/pQgbcCk6rj
— CEPAR (@CEPAR_research) July 2, 2018
Matt Keeley giving the conference dinner talk at the CEPAR conference #pensionscolloquium2018 #GROWsuper pic.twitter.com/IhDfdZ7AaJ
— Stephen Fay (@StephenFayJ) July 2, 2018
Second day of 26th #pensionscolloquium2018 kicks off with panel on financial #advice with Susan Doyle @StatePlus, Matthew Lawrence @NAB, Ric Simes @D_AccessEcon, Prof Hazel Bateman @CEPAR_research and @UNSWbusiness: responding to regulation, adapting to tech, and restoring trust pic.twitter.com/Wtezm8xSmG
— CEPAR (@CEPAR_research) July 2, 2018
Hazel Bateman: #Superannuation not originally designed w financial #advice in mind. Most need at least general advice at right time. And policy is moving to world where people will need more advice (e.g. #retirement inc products) #pensionscolloquium18 pic.twitter.com/3ZsEFbUUYo
— CEPAR (@CEPAR_research) July 2, 2018
Kevin Liu from @UNSWbusiness presents on how #superannuation performance is negatively affected by director affiliation and related party outsourcing, and retail funds are more affected by this pic.twitter.com/6rF4ihg4Hu
— CEPAR (@CEPAR_research) July 3, 2018
Was really excited to be participating in the 26th Colloquium on Pensions and Retirement Research today! Thanks to all speakers for sharing their insights. pic.twitter.com/XwswDZsBKx
— Luke Zhou (@l_zhou1) July 2, 2018