Self-funded retirees have welcomed the Retirement Income Review final report as a necessary, fact-based appraisal useful for creating new policies.

Retirees’ cost of living and spending rose during the September quarter despite the effects of the COVID-19 pandemic becoming less pronounced.

The federal government has highlighted findings from the Retirement Income Review final report that the current model is adequate and functional.

The current portfolio approach for retirees is outdated and leaves them vulnerable to low interest rates and higher market volatility.

SMSF advisers should rely on more robust and holistic modelling when assessing retirement to enable informed decision-making, a technical expert says.

The most recent interest rate cut will impact self-funded retirees through lower investment returns, while saddling them with a deeming rate that remains too high.