Download or read book The Australian Retirement Income System written by Rafal Chomik and published by . This book was released on 2020 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Australia has an atypical retirement income system: it comprises a flat-rate, non-contributory, affluence-tested age pension, and a mandatory, defined contribution accumulation plan to which employers must contribute 9.25 percent (moving to 12 percent) of wages on behalf of their employees. We briefly compare the Australian and US economies and demographies, and then describe the Australian arrangements and assess its econ efficiency and efficacy in delivering retirement support. We focus especially on the means testing of the first pillar in Australia and the mandated membership of pre-funded private pension plans. We conclude by considering insights for the evolution of the US pension reform debate as demographic change unfolds.
Download or read book Australia s retirement income systems written by Malcolm Edey and published by . This book was released on 1996 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Australia s Retirement Income System written by Diana Warren and published by . This book was released on 2008 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pensions at a Glance 2009 Retirement Income Systems in OECD Countries written by OECD and published by OECD Publishing. This book was released on 2009-10-15 with total page 283 pages. Available in PDF, EPUB and Kindle. Book excerpt: This third edition of Pensions at a Glance updates in-depth information on the key features of mandatory pension systems—both public and private—in the 30 OECD countries, including projections of retirement income for today’s workers.
Download or read book Australia s Retirement Income System written by Malcolm L. Edey and published by . This book was released on 1996 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Australia is in the early stages of introducing a system of self-provision for retirement through mandatory contributions to private superannuation funds. For most employees, the scheme will eventually replace, either fully or partially, the government age pension, currently relied upon by a large majority of retirees. The scheme has been implemented reasonably smoothly by building on existing financial infrastructure for voluntary superannuation. This paper summarises the historical background of mandatory superannuation in Australia, reviews its potential impact on saving and capital markets, and highlights some remaining policy issues. Perhaps the most important of these is the impact of the system on retirement decisions. A number of features of the system contribute to incentives favouring early retirement and continued reliance on the government pension. Also important is the increasing complexity of the system, a result of the layering of rule changes and grandfathering of existing rights at each stage of the process.
Download or read book Assessing Chile s Pension System Challenges and Reform Options written by Samuel Pienknagura and published by International Monetary Fund. This book was released on 2021-09-10 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.
Download or read book Income Support for the Retired and the Aged written by Australia. Parliament. Senate. Standing Committee on Community Affairs and published by . This book was released on 1988 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Efficiency of the Retirement Income System in Australia During Financial Reforms written by Matarr Njie and published by . This book was released on 2007 with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses the Malmquist Productivity Index-type DEA technique to measure the efficiency levels in Australia's retirement income system over the period 2000-2005. It covers important segments of the industry focusing on the different fund types and analyses market dynamics under Australia's financial reforms of its pension system. The paper describes the competitive nature of the industry and provides an empirical analysis of the nature of the technical and scale efficiency and the factors driving these efficiencies and finds that overall, the reforms have had efficiency-enhancing effects. Contrary to popular theory, the paper also finds that a key driver of the changes in efficiency in the retirement income system in Australia include the government, which suggests that despite the number of financial reforms introduced since 1992, government interventions can still have positive influences on the country's pension system.
Download or read book Women and Existing Retirement Income Systems written by Australia. Women's Bureau and published by . This book was released on 1984 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Beyond the Welfare State written by Sirvan Karimi and published by University of Toronto Press. This book was released on 2017-01-18 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: Neoliberal calls for welfare state reforms, especially cuts to public pensions, are a contentious issue for employees, employers, and national governments across the western world. But what are the underlying factors that have shaped the response to these pressures in Canada and Australia? In Beyond the Welfare State, Sirvan Karimi utilizes a synthesis of Marxian class analysis and the power resources model to provide an analytical foundation for the divergent pattern of public pension systems in Canada and Australia. Karimi reveals that the postwar social contract in Australia was market-based and more conducive to the privatization of retirement income. In Canada, the social contract emphasized income redistribution that resulted in strengthening the link between the state and the citizen. By shedding light on the impact of national settings on public pension systems, Beyond the Welfare State introduces new conceptual tools to aid our understanding of the welfare state at a time when it is increasingly under threat.
Download or read book Pensions at a Glance 2019 OECD and G20 Indicators written by OECD and published by OECD Publishing. This book was released on 2019-11-27 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, two special chapters focus on non-standard work and pensions in OECD countries, take stock of different approaches to organising pensions for non-standard workers in the OECD, discuss why non-standard work raises pension issues and suggest how pension settings could be improved.
Download or read book Inquiry Into Australia s Retirement Income Systems written by Australia. Social Welfare Policy Secretariat and published by . This book was released on 1984 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retirement Income in Australia Part II Public Support written by and published by . This book was released on 2018 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the second of three papers on the current state and projected future of Australia's retirement income system. This second paper focuses on the public provision of retirement income support: that is, the age pension. The paper looks at policy trends, the design of pension access, benefit level, and means testing, as well as poverty and fiscal outcomes. Unlike many other developed nations, where publicly-provided pensions are based on lifetime earnings, Australia has a needs-based and means tested system.
Download or read book Australia s Retirement Income System written by Malcolm L. Edey and published by . This book was released on 1996 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pensions at a Glance Asia Pacific written by OECD and published by OECD Publishing. This book was released on 2009-01-08 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: The report analyses the retirement income systems of 18 Asian countries, including Australia, China, India, Indonesia, Pakistan, the Philippines and Vietnam. It says that reform is needed because: coverage of formal pension systems is relatively ...
Download or read book A Comparative Analysis of Australian and Hong Kong Retirement Systems written by C. Strano and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: To combat the economic and social risks associated with an aging population, many countries over the past decade have implemented significant pension reforms which have included increasing age requirements for pension benefits, changing the way in which entitlements are calculated and introducing compulsory savings. The World Bank's leading involvement in pension reform, globally, has identified that the main objectives of a pension system continues to be poverty alleviation and consumption smoothing - beneath the umbrella of social protection. This paper reviews the Australian and Hong Kong's retirement income systems using the World Bank's Pension Conceptual Framework. It then considers each country's system in terms such as adequacy, affordability, sustainability, equitability, predictability and robustness.
Download or read book Pensions at a Glance 2021 OECD and G20 Indicators written by OECD and published by OECD Publishing. This book was released on 2021-12-08 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2021 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the past two years. Moreover, the special chapter focuses on automatic adjustment mechanisms in pensions systems in OECD countries, discusses the usefulness and limitations of these policy instruments, and suggests ways to improve them in order to enhance the capacity of pension systems to fulfil their objectives.
