The science of super
You don’t normally think of science and superannuation mixing too often in the laboratory, but a new $9m research program between CSIRO and four universities is doing just that.
The CSIRO-Monash Superannuation Research Cluster is built around a $3m Flagship Cluster Fund grant from CSIRO, and $3m in-kind research contribution from university partners led by Monash University. Another $3m will come from industry partners and government agencies.
Aimed at addressing two key themes of Superannuation and the Economy, and Australians Over 60, the cluster will bring together researchers from Monash and Griffith Universities, the University of Western Australia and the University of Warwick in the UK.
The Superannuation Research Cluster will look at what are the optimal forms of asset allocation by super funds, and how will this impact on economic growth as the pool of funds under management grows ever larger.
It will also investigate what other products and services could be made available to retirees, and how can super funds continue to assist their members post-retirement.
CSIRO Chairman Simon McKeon said the cluster fitted well in CSIRO.
“This is an exciting new development for our organisation which provides advice on many of our nation’s most profound challenges. For the first time we will be involved in research in superannuation, an industry that is reshaping our economy as funds under management grow exponentially,” Mr. McKeon said.
Professor Deborah Ralston, executive director of the Australian Centre for Financial Studies, drew the academic research program together for Monash.
“This high impact research will provide an independent evidence base to inform policy and promote innovation within the superannuation system, which is shaping up to have a key influence on the economy and the lives of most Australians,” Professor Ralston said.