How pension regulator's new proposals could boost retirees' take home

Retirements Benefits Authority wants pension funds for public entities not to be categorised as public funds. [Courtesy]

Restricting the movement of retirement schemes from different funds is one of the proposals fronted by the Retirement Benefits Authority (RBA) that may see retirees pocket more savings if approved.

The regulator, in its new proposals that seek to amend the RBA Act and its subsequent regulations, also wants umbrella schemes and individual benefit schemes to concentrate their investments in tradable assets.