Terms of reference

Improving consumer experiences, choice, and outcomes in Australia’s retirement system, with reference to:

(a)regulatory and tax impediments to innovation and uptake of insurance products in retirement;

(b)the economic costs and opportunities of innovation in our retirement income system;

(c)the interaction of health insurance, life insurance, general insurance, and social security supports to retirement outcomes, including options to improve incentives that drive consumer outcomes and support the sustainability of the retirement income system;

(d)the potential role of FinTech platforms, technologies, and innovations in supporting better retirement outcomes;

(e)policy options to support greater choice and quality of life in the retirement income system, including but not limited to the aged pension, financial advice, home ownership and downsizing, and insurance;

(f)progress on implementing the Retirement Income Covenant; and

(g)the impact of climate change on insurance premium affordability and accessibility;

(h)the impact that climate change is likely to have on insurance premiums for products including life, home and contents and small business;

(i)the impact of climate change on the value of assets (e.g. houses, investments) of retired people; and

(j)any other related matters.