Superannuation funds—along with retirees, impending retirees, and financial advisers—have had to cope with the substantial changes to the means test for the Age Pension that came into effect on 1 January 2017. More changes are in the works. The Department of Social Services (DSS), aided and abetted by the Treasury and the Government Actuary, has been looking at the means test settings for longevity products. This examination has included longevity products already in the market, such as annuities and group self annuitisation arrangements, and possible new products, such as deferred annuities and other innovative products. The trigger for this review,...