Retirement Income Covenant
Find out how you can stay on track, before it’s too late
The government recently legislated the long-awaited Retirement Income Covenant when the Federal Parliament passed the Corporate Collective Investment Vehicle Framework and Other Measures Act 2022 (the Act). The Act inserts the covenant as a new statutory covenant in the Superannuation Industry (Supervision) Act 1993.
The covenant requires all APRA regulated super funds to have a documented strategy to identify the retirement income needs of fund members, and to develop a plan to service those needs, in place before the July 2022 deadline.
Now is the time for fund trustees to ensure they are on track to meet the 1 July 2022 deadline. Find out what this all means and how you can start looking to design and execute on retirement strategies with our easy-to-use checklist.