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A senior Treasury official, John Lonsdale, has signalled that the Government is likely to endorse the Financial System Inquiry’s (FSI) recommendations to disallow retirees from drawing-down their superannuation as a lump sum. From The Canberra Times:
Australians entering retirement will most likely be stopped from taking their superannuation as a lump sum and will have to access it through a structured self-funded pension, a top Treasury official says.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.