Super expert presents at global symposium

Griffith University Professor Michael Drew’s reputation as a worldwide authority on superannuation will see the academic present at a highly prestigious global retirement symposium in New York from April 29-30.

Leading international experts and decision makers from across a broad range of disciplines will address the 2014 J.P. Morgan Retirement Symposium, engaging in critical thinking and dialogue on the multi-faceted, global forces that are shaping what retirement will mean in the decades to come.

Of particular significance will be the impact such forces will have on individuals, businesses, and governments.

The cornerstone issue of Professor Drew’s session entitled, “Shifts and risks: Optimising our Savings Systems,” will consider whether retirement savings systems around the world are well-positioned to address the financial and behavioural realities of today.

The discussion will consider the implications of the global responsibility shift from defined benefit (DB) plans to individuals in defined contribution (DC) plans, as well as related behavioural and structural learnings.

“Australia’s superannuation system is one of the leading retirement savings systems in the world,” confirmed Professor Drew.

“However, like many countries around the world, the ageing of the population is seeing the system move from the savings/accumulation phase to the critical retirement income/distribution phase.

“Increases in life expectancy around the globe create elevated pressure on households and governments alike, to maintain a sustainable level of retirement income for an extended period of time.

“The 2014 J.P. Morgan Retirement Symposium will consider topics from behavioural finance and the changing labour market, to the dynamic nature of risk through different life stages and retirement income strategies.

“The Australian experience of these matters provides important insights into the challenges faced by today’s retirees.”

Professor Michael Drew is the Foundation Director of the Griffith Centre for Personal Finance and Superannuation, which will be officially launched on Tuesday 17th June 2014 with Mr Jeremy Cooper (Chairman – Retirement Income, Challenger) and Ms Danielle Press (Chief Executive Officer, Equipsuper).