Addressing adequate retirement income wins Future Leader Award
Laura Bielinko has taken out this year's 2015 Financial Services Council/Deloitte Future Leader Award for her work on providing more adequate retirement incomes to Australians.
In her award submission, Bielinko, an Executive Manager of Wealth Management Advice Strategy at the Commonwealth Bank, recommended securing a five per cent increase in the Age Pension for every year Australians continue to work and contribute to their superannuation beyond the pension age, without accessing the Age Pension.
"With some compelling international comparisons for Australia when it comes to old age poverty, Laura was determined to find ways to improve the current Australian Council of Social Service (ACOSS) statistics that places 35 per cent of Australians over 65 as living in poverty," said Deloitte Wealth Management Leader, Neil Brown.
"Laura considered the growing gap between life expectancy and the eligible age for the Age Pension, and made clear recommendations as to how to:
- Provide a way for low income earners to lift themselves out of old age poverty;
- Improve gross replacement ratios for the average Australian; and
- Balance these against fiscal sustainability and delivers benefits for the budget."
This year there were 22 candidates for the award. According to the Financial Services Council chief executive officer, Sally Loane, the awards showcase the thinking and innovation of the next generation of leaders, which, "combined with the experience and wisdom of our senior executives and mentors, can ensure that the future of financial services in Australia is in really good hands".
The awards program is open annually to current employees of FSC full member companies, APRA, ASIC, Treasury and AUSTRAC. To be eligible for this year's awards, participants must have been born on or after 1 January 1985 and be permanent residents of Australia. All participant entries were supported by their chief executive officer and a senior mentor from within their organisation. Judging took place throughout September 2015.
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