Issue: 442
Sent: 18-05-2011 09:34:08
In this issue:

Don't Ask Don't Tell: The dumbing down of corporate communicationsA How To Book Of Self Managed Super FundsThe Real Retirement ShortfallEmail Marketing For Planners
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The Real Retirement Shortfall

Click here to buy - A How To Book of SMSF's by Tony Negline
Tony Negline

Last week the Chartered Insurance Institute estimated that the UK faces a 9 trillion pound shortfall to support the wave of retirees.

It takes into account long-term care and debt and looks at the costs of retirement over the next 40 years.

This eye watering amount has certainly grabbed some headlines.

The CII conclude that there are three areas that need to be addressed - "education about saving for the future, trust in financial products and advice, and the stability of the future savings landscape".

The CII argue that in the UK there are "significant" barriers to long-term saving:

In relation to mis-selling scandals, the CII argues that, "Michael Johnson [a researcher at the UK Centre for Policy Studies] argues that there has been 'a near fatal erosion of trust, fuelled by mis-selling scandals, excessive costs and a long period of poor investment returns.' As a consequence the pensions industry [akin to our super industry] faces a regulatory backlash."

In 2009 a CII survey found, "one in five respondents will never trust financial services again and 72% of people have not very much or not trust at all in financial advisers and life insurance providers."

Is there anyone who doubts that the same could have been written about Australia? Perhaps perception wise financial services companies here are in a better position because we haven't had any bank failures or life insurance problems similar to those in the UK.

Anyone who thinks lifting compulsory super from 9% to 12% is going to make any substantive difference needs to think again.

I wonder if in 30 years time - perhaps sooner if the US and Europe can't balance their unfunded pension liabilities - retirement begins to be seen as a quaint luxury and slowly begins to disappear.

Finally please consider purchasing a copy of "A How To Book Of Self Managed Super Funds". You can look at the contents page at the following link: http://www.atcbiz.com.au/r.php?r=0mjd6ne

The 5th edition has just been released.

For details of the changes made from version 4 to version 5 visit: http://www.atcbiz.com.au/r.php?r=1nhgpm2

As you'll see from the list there have been many changes.

Two purchase options are available - once only subscription - $55 inc GST - or an annual subscription will gives you access to all the updates made throughout the year ($120 inc GST). The book can be purchased at the following link: http://www.atcbiz.com.au/r.php?r=5a4agqb


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