The rate of age pension take-up had fallen by 9 per cent since the introduction of superannuation and almost one-third of retirees were now self-funded, putting paid to the myth that compulsory super as a policy was having negligible impact on retirement incomes, according to the Association of Superannuation Funds of Australia (ASFA).

Financial Synergy founder and chairman David Orford has launched a new venture and retirement product offering to operate alongside the regular income stream of an account-based pension.