After the ball is over: what happens to choice after retirement?

Research and policy on financing old age in Australia has focused very heavily upon superannuation as a major income source. The focus of policy, marketing and interest in superannuation has been on the worker during the accumulation phase of superannuation scheme membership. This is exemplified by the papers delivered at this symposium over the years, the articles in the popular media providing advice on personal investment and retirement planning. With the possible exception of financial planners there has been little corresponding interest in members after they claim their superannuation, and purchase their pension or annuity. This however is where, for most Australians the purpose of superannuation, namely supporting themselves through retirement, really begins. Relatively little is known about • how people manage their income and income streams in retirement • how prepared people are to manage income in retirement and • what happens to the capacity to manage multiple income sources and income streams as people enter advanced old age? This paper focuses on the implications of choice for income management in old ag