Wed, 19th Jun 2024

In this episode of the Daily Financial Services News Wrap, host Paige Estritori discusses a range of pressing financial topics. The Reserve Bank of Australia keeps the cash rate steady amidst inflation concerns, although there are economic uncertainties going forward, including energy rebates and service inflation. Concerning retirement, a Vanguard Australia study reveals that Australians are increasingly worried about outliving their savings, pointing to the need for comprehensive retirement plans and financial advice. In insurance, significant increases in builders' warranty insurance premiums by the Victorian Managed Insurance Authority have prompted affordability debates. Lastly, a worrying rise in workplace-related mental health insurance claims, mainly from stress, harassment, and burnout, signals the urgent need for effective mental health policies in the workplace.