Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    An Uncertain Future
    An Uncertain Future
    An Uncertain Future
    Ebook42 pages47 minutes

    An Uncertain Future

    By Daryl Dixon

    ()

    Read preview

    About this ebook

    Daryl Dixon, one of Australia’s foremost investment and superannuation experts and well-known writer and consultant, lifts the lid on issues that have concerned him for the past two years in this frank look at the UniSuper Defined Benefit (DBD) fund.

    Daryl argues that the fund, the default super fund for all new full-time university employees, is putting members’ retirement benefits at risk by failing to provide a guarantee to pay promised benefits. He also shows how the UniSuper DBD favours older employees.

    Ahead of changes to be implemented from 1 January 2015, which will result in a significant reduction in the accrual of benefits, Daryl considers a number of options for UniSuper DBD members.

    Complete with case studies and calculations never before made public, this is a must-read book for every UniSuper DBD member.

    LanguageEnglish
    PublisherDaryl Dixon
    Release dateDec 10, 2013
    ISBN9780646596600
    An Uncertain Future
    Author

    Daryl Dixon

    Daryl Dixon is the Executive Chairman of Dixon Advisory and Superannuation Services. Daryl is one of Australia’s foremost investment experts and a well known writer and consultant. He has provided trusted advice to thousands of personal clients over more than 25 years and is an acknowledged expert in the areas of tax, superannuation (including public sector superannuation), social security and investments. He has been a successful investor for more than 40 years and consults on personal and business finance strategies. Daryl is the author of numerous newspaper articles on investment and superannuation and writes regularly for The Canberra Times, the Public Sector Informant and Financial Review Smart Investor magazine. He has written a number of books, including Secure Your Superannuation Future (published in 2012). Read more about Daryl's books. Before establishing his own consulting firm, Daryl worked in the International Monetary Fund, the Treasury, the Department of Finance and as Head of the former Social Welfare Policy Secretariat on major policy issues. He has worked as a consultant for a variety of government bodies and undertaken a large number of consultancies for diverse organisations covering the public, private and voluntary not-for-profit sections of the economy. Daryl has a Bachelor of Arts, majoring in Economics with First Class Honours from the University of Queensland. He won the Shell Scholarship allowing him to complete a Master of Arts, majoring in economics also with First Class Honours from Cambridge University in the UK. Daryl has lectured in economics, public finance and taxation theory at the Australian National University and the University of Calgary, Canada.

    Related to An Uncertain Future

    Related ebooks

    Business For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      Buying Annuities in Your 401(k)

      May 24, 2022

      Despite the economic challenges presented by the COVID-19 pandemic, the vast majority of workers continued to contribute to their retirement plans in 2021, according to the Investment Company Institute. All told, Americans have more than $11 trillion

      6 min read

    • Article

      New Retirement Plan Option May Be on Horizon

      Sep 19, 2018

      Momentum to improve access to retirement plans has increased in recent years, mostly at the state level. Now, there's the possibility of opening up a new kind of retirement plan to all workers, particularly small-business employees, thanks to a boost

      2 min read

    • Article

      You Just Lost Your Corporate Job Due to the Coronavirus Crisis. Now What?

      Mar 25, 2020

      The coronavirus is having a big impact on many industries -- energy, airlines and hospitality, just to name a few. While President Trump and Congress are working to help provide resources and support programs to those without a financial safety net,

      4 min read

    • Article

      The Case for a Lump Sum Pension Distribution

      Apr 19, 2019

      Large corporations, like Pfizer and Bristol-Myers, have long extolled the benefits of their defined benefit pension plans. However, in 2017, Pfizer finally pulled the plug on its defined benefit plan in favor of a more company-friendly 401(k) employe

      4 min read

    • Article

      What Could the CARES Act Do for You?

      Apr 29, 2020

      As the U.S. struggles to contain the effects of the coronavirus, it can be tough to get past day-to-day concerns about staying safe both physically and financially. Any thoughts regarding long-term planning have likely been shifted to backburner stat

      4 min read

    • Article

      FAQs on CARES Act Relief for Student Loan Borrowers

      Sep 21, 2020

      Student debt has always been challenging to pay down. In fact, one in five adult borrowers who funded their own education were behind on their payments in 2018. Pair this with one of the most challenging economic environments we’ve seen in decades —

      4 min read

    • Article

      Remain Alert During A Merger

      Jun 29, 2022

      Super funds continue to merge, creating mega-funds with economies of scale that will provide members with lower fees and better benefits. While most of the attention will focus on investment performance, checking your life insurance is also important

      4 min read

    • Article

      Wealthy? Potential Social Security Changes to Watch Out For

      Sep 17, 2019

      Social Security has developed a reputation for constantly being on the brink of crisis. A recent government report found that Social Security costs will exceed its income in 2020, and the program only has enough reserves for the next 16 years. Meanwh

      3 min read

    • Article

      Provident Fund Changes – Should I Be Worried?

      Feb 13, 2021

      RETIREMENT can be daunting. Not only does it signify a practical and highly emotional transition in life, but the financial implications are often nerve-racking. Add to this the fact that there are legislation changes looming in the first quarter of

      3 min read

    • Article

      Provident Fund Changes – Should I Be Worried?

      Feb 13, 2021

      RETIREMENT can be daunting. Not only does it signify a practical and highly emotional transition in life, but the financial implications are often nerve-racking. Add to this the fact that there are legislation changes looming in the first quarter of

      3 min read

    • Article

      Provident Fund Changes – Should I Be Worried?

      Feb 13, 2021

      RETIREMENT can be daunting. Not only does it signify a practical and highly emotional transition in life, but the financial implications are often nerve-racking. Add to this the fact that there are legislation changes looming in the first quarter of

      3 min read

    • Article

      Student Loan Forgiveness: Navigating the Maze

      Jul 21, 2022

      The Department of Education announced a short-term opportunity for expanded loan forgiveness in an effort to remedy the past administrative failures and inaccuracies of the federal forgiveness program. The changes, which will impact the Public Servic

      5 min read

    • Article

      Take Ownership of Your Retirement Before It's Too Late

      Jul 16, 2019

      The traditional defined-benefit pension plan was a key component of many Americans' compensation packages until the 1980s. Employees could be confident that the combination of pension and Social Security benefits could adequately see them through the

      4 min read

    • Article

      Lower Your Expectations on Pension-Plan Promises

      Jan 22, 2018

      Some financial experts call it "pension envy." It's a green-eyed monster that frequently appears when younger workers talk about the income benefits their parents and grandparents could count on when they retired. Many employers that once offered p

      2 min read

    • Article

      Retiring in the Next 5 Years? Make These Five Decisions Now

      Aug 1, 2021

      In the five years preceding retirement, a person will make more important decisions about how to maximize their retirement than at any other time. Why? Because these decisions are not easily altered, and the impact will affect important income and ex

      4 min read

    • Article

      When A Pension Turns Into An Annuity

      Jan 30, 2018

      Hearing that your piece of the pension pie is migrating to an insurance company may be unsettling. While change can be scary, this news doesn't need to frighten you. But it may present you with the unexpected choice of whether to take a lump sum of c

      2 min read

    • Article

      Yes, You Can Buy a Home, Start a Family AND Pay Off Your Student Loans

      Nov 20, 2019

      About 10 years ago I met with a client -- she was a teacher and a single mom hoping to put her kids through college. At 56, she was almost past the average retirement age for teachers in her state, yet it was clear she wasn't going to be retiring any

      3 min read

    • Article

      Provident Fund Members Face Withdrawal Changes On March 1

      Jan 16, 2021

      UP UNTIL now there have been two distinct types of retirement funds offered by employers to their employees: pension funds and provident funds. Many companies offer both. Traditionally, the differences between pension and provident funds were that in

      3 min read

    • Article

      Provident Fund Members Face Withdrawal Changes On March 1

      Jan 16, 2021

      UP UNTIL now there have been two distinct types of retirement funds offered by employers to their employees: pension funds and provident funds. Many companies offer both. Traditionally, the differences between pension and provident funds were that in

      3 min read

    • Article

      Provident Fund Members Face Withdrawal Changes On March 1

      Jan 16, 2021

      UP UNTIL now there have been two distinct types of retirement funds offered by employers to their employees: pension funds and provident funds. Many companies offer both. Traditionally, the differences between pension and provident funds were that in

      3 min read

    • Article

      Provident Fund Members Face Withdrawal Changes On March 1

      Jan 16, 2021

      UP UNTIL now there have been two distinct types of retirement funds offered by employers to their employees: pension funds and provident funds. Many companies offer both. Traditionally, the differences between pension and provident funds were that in

      3 min read

    Related categories

    Reviews for An Uncertain Future

    0 ratings

    0 ratings0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      An Uncertain Future - Daryl Dixon

      About the author

      Daryl Dixon is the executive chairman of Dixon Advisory and Superannuation Services. Daryl is one of Australia’s foremost investment experts and a well-known writer and consultant. He has provided trusted advice to thousands of personal clients for more than 25 years and is an acknowledged expert in the areas of tax, superannuation (including public sector superannuation), social security and investments. He has also been a successful investor for more than 40 years.

      Daryl is the author of numerous newspaper articles on investment and superannuation and writes regularly for the Canberra Times, the Public Sector Informant, Smart Investor magazine and the Australian. He has written numerous books on superannuation and financial topics include Securing Your Superannuation Future (2012), a guide to establishing and running a self managed super fund, and Super Strategies for the 21st Century (2000), a detailed explanation of Australia’s complex superannuation system and strategies to make the most of the benefits and avoid the traps. He also wrote An Independent Guide to The New Commonwealth Super Scheme: The New and Old Schemes Compared (1990) to help public servants decide whether to join what was then a new version of the CSS.

      Before establishing his own consulting firm, Daryl worked in the International Monetary Fund, the Treasury, the Department of Finance and, as head of, the former Social Welfare Policy Secretariat on major policy issues. He has worked as a consultant for a variety of government bodies and undertaken a large number of consultancies for diverse organisations covering the public, private and voluntary not for profit sections of the economy.

      Daryl has a Bachelor of Arts degree with first class honours, majoring in economics from the University of Queensland. He won the Shell Scholarship, allowing him to complete a Master of Arts, majoring in economics, also with first class honours, from Cambridge University in the United Kingdom. Daryl has lectured in economics, public finance and taxation theory at the Australian National University and the University of Calgary, Canada.

      Background

      Over the past two years, I have become concerned that the UniSuper Defined Benefit (DBD) fund is putting the retirement benefits of all its members at risk and I’ve argued for the need for fundamental and long-overdue reforms.

      Among my greatest concerns is that all the universities, as employers, use the DBD as their default super fund for all new full-time employees even when, unlike other defined benefit funds, the accrual of benefits favours older employees.

      Furthermore, all employees have no

      Enjoying the preview?
      Page 1 of 1