Treasury launches retirement phase transparency consultation

Treasury has launched a consultation that seeks the right metrics and indicators to create transparency in the retirement phase and improve retirement outcomes.

- Karren Vergara

The proposed Retirement Reporting Framework will require trustees to report on a series of indicators on their products, services and offerings, as well as metrics on their members' behaviour, to understand how trustees are driving improved retirement outcomes.

While the metrics have yet to be determined, Treasury wants feedback on which indicators to use to “create meaningful reporting framework that will ultimately help drive transparency and improved retirement outcomes.”

The framework will report on fund offerings and member outcomes for individual trustees and at an industry level.