Statistical evidence shows superannuation is likely to play a more significant role than it currently does in the retirement income space for Australians, a senior financial services executive has said.

Less than four in 10 Australians are satisfied with their age pension application process through Centrelink, with many seeking assistance or professional financial advice.

Greater attention must be given to the implementation challenges retirees face as the industry works to close the gap on developing better-tailored products and improving the education for this life-cycle stage.

For many SMSF investors, the drive to control investment for their retirement years is fuelled by the ultimate desire to control their attainment of ‘financial security’ in retirement, rather than leave it in someone else’s hands.