David C. Orford, the Managing Director of Optimum Pensions Pty Ltd, has played a pivotal role in transforming Australia’s superannuation and insurance sectors. An experienced and business-oriented actuary, Orford has significantly influenced policy making and public speaking activities within these fields.
As the founder of a leading actuarial business that evolved into Australia’s dominant superannuation administration software provider, Orford’s expertise is unparalleled. His career highlights include acting as an actuary for four life insurers and twelve friendly societies and contributing to the Cain Government’s reforms of workers’ compensation and transport accident schemes in the late 1980s. Orford also served as the actuary to the Receiver of Pyramid Building Society, navigating the insolvency of two life insurers.
Orford’s impact extends beyond his actuarial roles. Many of his ideas have been incorporated into superannuation and other legislation. He actively participates in policy-making processes to enhance living and working conditions in Australia. In 2020, he executed an exclusive agreement with Generation Life to market Optimum Pensions’ Real Lifetime Pension, contributing to a notable increase in the company’s share price.
Orford’s involvement in financial system inquiries since 2007 has been instrumental in implementing changes that liberalized the post-retirement market, working closely with Treasury and Kelly O’Dwyer’s team. His philanthropic efforts are also noteworthy, with the establishment of The Orford Foundation in 2017, which funds research and supports social causes such as flood and bushfire relief, Aboriginal education, and homelessness.
In 2016, Orford sold Financial Synergy after 38 years, marking a significant milestone with a feature on the front page of the Australian Financial Review. His continuous efforts since 2003 have aimed to eliminate barriers to developing a real lifetime income stream market in Australia, promising substantial benefits for the nation.
Orford’s contributions to the Cain Labor government’s reforms in the late 1980s improved workers’ compensation and transport accident systems, enhancing accident prevention and rehabilitation services while reducing costs for employers and consumers. His active involvement with ASFA, the Actuaries Institute of Australia, and political parties focuses on improving the efficiency and effectiveness of Australia’s superannuation system.
Qualifying as an actuary in record time in 1969, Orford has been a key member of various influential committees, including the Actuaries Institute’s “Retirement Income Working Group” and the “Superannuation Projections and Disclosure” Sub-committee. His work on an online financial planning platform further exemplifies his forward-thinking approach.
Orford’s extensive career also includes significant public speaking engagements, such as presenting at ASFA conferences and writing influential pieces like “Save Yourself Super” in 2002. His advocacy in superannuation reform has led to substantial policy changes, benefitting both individuals and the broader Australian economy.
For more information, David C. Orford can be reached at Optimum Pensions Pty Ltd, 18 Crows Nest Place, Queenscliff, VIC 3225, via mobile at 0407 206 457, or by email at david@optimumpensions.com.au.
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