The upper house

Article Abstract:

There are moves by some MPs in Australia to force prime minister John Howard to reduce the generous superannuation payments received by former MPs. More younger former politicians are now receiving pensions, and former members and their spouses are now living longer, so scheme costs are surging.

Politicians

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Life lessons

Article Abstract:

Australian investors should learn from the experiences of UK life insurer Equitable Life, which was unable to meet its minimum pension guarantees. Investors must be sceptical about pension pledges made by private firms or government, and should try to spread their pension risk.

Insurance industry, Life insurance industry, Equitable Life Assurance Society

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Dipping yarns

Article Abstract:

Retirement benefits in Australia are discussed, with focus on the tightening of federal pension regulations, and the reduced level of state pension paid to retired people who have taken lump-sums in cash.

Retirees

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