Retirement
Banking royal commission needed, says former pollie
The “disappointing” behaviour exhibited in Australia’s banking sector is more than enough to justify a royal commission, a former Labor politician has said.
Banking royal commission needed, says former pollie
The “disappointing” behaviour exhibited in Australia’s banking sector is more than enough to justify a royal commission, a former Labor politician has said.

Speaking at the Wraps, Platforms and Masterfunds conference last week, Bernie Ripoll was asked if he thought “maleficence by the banks” was of such an order that a royal commission was needed, to which he replied with a blunt ‘yes’.
“I’m just going to answer this plainly and say yes; I think we’re at that place now,” Mr Ripoll told the audience.
“There’s just too much evidence and I think, too, it’s not just my view and it’s not just the Labor Party’s view, it’s the natural majority that’s contained in Parliament.”
Mr Ripoll, who previously led the financial services inquiry that prompted the Future of Financial Advice (or FOFA) reforms, believes that sentiment towards a royal commission is so positive that if it were put to a free vote in Parliament today the motion would win “easily”.

“There’s just that natural majority, and I think one side is way too committed to having it not go ahead, so I think that inevitability means that will happen,” he said.
“I certainly know what the community wants.”
Mr Ripoll said that while the inquiry would be referred to as a ‘banking royal commission’, its influence would likely extend beyond the banking sector and into financial services such as advice and insurance.
“We call it a banking royal commission, but it’s actually a review in to the financial services sector, it will be able to deal with things that haven’t been dealt with,” he said.
“Perhaps that’s disappointing — it is disappointing, but it’s disappointing these things have taken place.”

Retirement Planning
Majority of Australians anxious about retirement as super knowledge gaps persist, report finds
A new study by Aware Super has revealed that a significant majority of Australians aged 45 and over are feeling anxious about retirement, with nearly nine in ten respondents concerned they will run ...Read more

Retirement Planning
AMP’s MyNorth Lifetime boosts financial security and retirement income
AMP has reported that its MyNorth Lifetime retirement income solution is delivering significant financial benefits to retirees, with an average uplift of 50% in total income. Read more

Retirement Planning
Retirement living sector calls for planning reforms amid declining construction confidence
The Retirement Living Council (RLC) is urging governments to streamline planning systems to boost housing supply, following a decline in confidence in age-friendly construction activity. Read more

Retirement Planning
New laws to boost women's retirement savings through paid parental leave
The Australian Parliament has passed new legislation that will see superannuation guarantee contributions paid on the Commonwealth Government's Paid Parental Leave (PPL) scheme. Read more

Retirement Planning
Planning systems under scrutiny as Australia's ageing population grows
The Retirement Living Council (RLC) has called for governments to address planning system shortfalls in preparation for Australia's ageing population, following the release of new data from the ...Read more

Retirement Planning
Retirement Living Council calls for focus on seniors' housing as population ages
The Retirement Living Council (RLC) has urged governments across Australia to prioritise age-friendly housing solutions in response to new data revealing an ageing population. Read more

Retirement Planning
Macquarie University study reveals benefits of guaranteed income in retirement
A new study by Macquarie University's School of Psychological Sciences has found that mental health, enjoyment, and financial security are key benefits of incorporating guaranteed income and annuities ...Read more

Retirement Planning
Retirement villages offer affordable housing amid market crisis, study finds
Retirement villages are providing a significantly more affordable housing option for older Australians compared to the traditional property market, according to new data released today. Read more

Retirement Planning
Majority of Australians anxious about retirement as super knowledge gaps persist, report finds
A new study by Aware Super has revealed that a significant majority of Australians aged 45 and over are feeling anxious about retirement, with nearly nine in ten respondents concerned they will run ...Read more

Retirement Planning
AMP’s MyNorth Lifetime boosts financial security and retirement income
AMP has reported that its MyNorth Lifetime retirement income solution is delivering significant financial benefits to retirees, with an average uplift of 50% in total income. Read more

Retirement Planning
Retirement living sector calls for planning reforms amid declining construction confidence
The Retirement Living Council (RLC) is urging governments to streamline planning systems to boost housing supply, following a decline in confidence in age-friendly construction activity. Read more

Retirement Planning
New laws to boost women's retirement savings through paid parental leave
The Australian Parliament has passed new legislation that will see superannuation guarantee contributions paid on the Commonwealth Government's Paid Parental Leave (PPL) scheme. Read more

Retirement Planning
Planning systems under scrutiny as Australia's ageing population grows
The Retirement Living Council (RLC) has called for governments to address planning system shortfalls in preparation for Australia's ageing population, following the release of new data from the ...Read more

Retirement Planning
Retirement Living Council calls for focus on seniors' housing as population ages
The Retirement Living Council (RLC) has urged governments across Australia to prioritise age-friendly housing solutions in response to new data revealing an ageing population. Read more

Retirement Planning
Macquarie University study reveals benefits of guaranteed income in retirement
A new study by Macquarie University's School of Psychological Sciences has found that mental health, enjoyment, and financial security are key benefits of incorporating guaranteed income and annuities ...Read more

Retirement Planning
Retirement villages offer affordable housing amid market crisis, study finds
Retirement villages are providing a significantly more affordable housing option for older Australians compared to the traditional property market, according to new data released today. Read more