Thoughts Behind the Real Lifetime Pension

David Orford, the founder and owner of Optimum Pensions, is also the principal architect of the product. Originally a partner with actuarial firm, E.S. Knight and Co, Actuary to 4 Life Insurance Companies (for one of which he designed a CPI indexed lifetime annuity), David had taken his background, knowledge and skills in actuarial consulting and superannuation to found Financial Synergy, in 1978, which became Australia’s leading provider of superannuation administration software, which he sold to listed company IRESS in 2016.

Optimum Pensions has designed and tested an innovative new lifetime income stream, the Real Lifetime Pension (“RLP”), that may be delivered by Superannuation Funds to their members to address Australians’ longevity risk, while providing higher performance than current lifetime annuities on the market. It can also provide Funds with a key element of a Comprehensive Income Product for Retirement (“CIPR”) solution.

David is passionate about helping Australians lead a comfortable retirement. This document provides some background and insight into the thinking behind the development of the Real Lifetime Pension as a solution to managing Australians’ longevity risk. We discuss our ideas under the following headings

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