“The goal for Optimum Pensions is to educate the retirement industry about the options available to ensure Australians have access to a better range of retirement income streams. This is my life’s passion and I am proud to be able to invest in the people and solutions that will help shape our future,” said David Orford, CEO and Founder of Optimum Pensions.

This latest announcement will see a range of experts work within the business, as well as provide a range of outsourced expert insights. The team contributes a wide range of technical, operational, marketing and communication skills that will deliver a new range of income streams for superannuation funds and life insurance companies to provide sustainable retirement incomes.Peter Rowe has moved into the newly created role of General Manager, following his initial appointment as Manager, Business Development. His responsibilities will include spearheading the organisation at an industry level, as well as rolling out the strategic roadmap for products and solutions. Peter has spent over 25 years in the superannuation industry with over 30 years in senior management roles. He has had extensive experience in pension management and administration.

Jim Hennington joins as Head of Innovation, taking on the responsibility for product design and developing modelling tools to make Optimum’s pensions accessible to planners and retirees. Jim is a Fellow of the Institute of Actuaries of Australia.

Stephen Huppert will hold the consulting role of Head of Engagement, utilising his 25 years’ experience in superannuation, wealth management and life insurance in his promotion of Optimum Pensions and the retirement challenges it is addressing. Stephen is a Fellow of the Institute of Actuaries of Australia.

David Moxon, Consultant – Communications and Education brings his senior management experience in product development, marketing, communications and planning to developing the marketing strategies and materials for Optimum products.

Tamara Ben-Moshe, Consultant – Brand and Strategic Marketing, will share her in-depth insights and senior marketing experience with the superannuation and retirement industry to put Optimum Pensions and its services on the map.

Cathryn van der Walt, Consultant – Media, will be responsible for media and analyst relations, promoting awareness of the new opportunities Optimum Pensions presents to the financial services industry.

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David Orford

Established to comprehensively address Australians’ longevity risk, Optimum Pension has encouraged the superannuation industry to transform its approach to fulfil the true purpose of superannuation or face the risk of losing members to market challengers. With both male and female Australians now outliving standard longevity tables, post retirement income streams have the potential to deliver the inflation-linked income retirees need.

For David Orford, CEO and Founder of Optimum Pensions the superannuation industry now has the single largest opportunity to transform the retirement phase of the superannuation journey for Australians since the introduction of superannuation in 1992.

“Lifetime income streams are able to address the challenge we have for members to maximise their retirement standard of living. A real lifetime income should successfully deliver around 30% more income for a retiree than a traditional account-based pension. For a superfund it is a great way to lock in your members for life, which is not the case if members cash out lump sum payments.”

Orford also cautioned super funds not to be complacent about the ‘member for life’ approach many take to existing relationships.

“If you do not address the longevity risk Australians are facing, together with the challenges of housing, cost of living and inflation as an industry, you may find your industry disruptors at your door. Whilst the players in the superannuation sector wait for CIPRs to be resolved, other participants of the financial services sector, such as insurance may take the lead.”

Speaking this week at an industry conference Orford cautioned policy makers to undertake educational programs to expand financial literacy and improve understanding of the main features, cost, and performance of different retirement products.

“Australians need to enjoy their retirement and not be scared to spend their savings. Account based pensions don’t provide the income that can keep pace with inflation over the course of your lifetime. We need more offerings and greater education,” he outlined.

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