Certain characteristics currently embodied in the retirement savings framework, such as fund diversity and the system’s sole purpose, need to be maintained, according to a panel of senior executives.

The superannuation industry peak body has called out the Grattan Institute for launching an unprecedented attack on the retirement savings of ordinary Australians.

Super decumulation is a live debate in Australia and policies formulated in the next few years will set the stage for the issue here, according to academics.