This paper argues that Australia's current retirement income system is inadequate for meeting the longevity challenge, does not allow people to sufficiently manage longevity risk, and promotes financial inequality.

This paper argues that increasing longevity and an ageing society together represent the demographic climate change of our time, and that without prompt and considered action on a number of fronts – political, social and economic – we risk a loss to our quality of life. Executive summary 1.8 million people aged over 85 in...