Download or read book The Australian Pension Scheme written by John Creedy and published by . This book was released on 1989 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Management and Regulation of Pension Schemes written by Nicholas Morris and published by Routledge. This book was released on 2018-03-19 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt: Perhaps the greatest long-term challenge facing modern economies is how to pay for the living expenses and care costs of the elderly. Following policy decisions made in Australia in the 1990s, a substantial part of the pension requirements of the next cohort of retirees will be met from savings accumulated during working years. The effective management of these savings is crucial. If they are invested wisely, the assets available to fund pensions and care will grow; if not, available funds may turn out to be insufficient. Unfortunately, there is considerable evidence worldwide that the management of funds attracts rent-seeking behaviour by the financial services industry which erodes much of the potential return. Australia introduced compulsory superannuation contributions for its working population in 1991, leading to a proliferation of funded schemes that are largely run by the private sector. Complexity, and many degrees of separation between fund members and those who manage their funds, have emerged as serious problems. Combined with weak competitive pressures and governance systems, and insufficient legal and regulatory constraints, the result is a system that does not serve its members well. This book provides a detailed evaluation of the Australian experience, highlights the extent to which the financial services industry has extracted rents from Australian pensioners, and how and why this occurred. Based on original empirical research, and examination of industry reviews and relevant literature, the book demonstrates the numerous principal–agent, conflict of interest and rent extraction problems that have emerged in Australia. The book makes suggestions for how these problems can be addressed in Australia, and also provides lessons for other countries wishing to enact pension reform.
Download or read book Money in Retirement written by John Daley and published by . This book was released on 2018-11-06 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Risk Based Supervision of Pension Funds in Australia written by Graeme Thompson and published by World Bank Publications. This book was released on 2008 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This paper examines the development of risk-based supervision of pension funds in Australia. The large number of pension funds has meant that since the inception of pension fund supervision in the early 1990's the regulator has sought to identify high risk funds and focus its attention on these funds. However, the regulator developed a more sophisticated risk-rating model, known as PAIRS/SOARS, in 1992 in order to apply a more disciplined and consistent ratings methodology. Four reasons are given for the move towards more sophisticated risk-based supervision: 1) creation of an integrated supervisor which allowed the use of techniques used in banking and insurance to be adopted for pension fund; 2) the need to better use available supervisory resources; 3) several pension fund failures; and 4) concerns about industry weaknesses. Supervisory techniques used particularly in the banking industry, such as universal licensing, 'fit and proper' assessment, and risk management requirements were adopted for the pension sector between 2004 and 2006. The paper provides an outline of the PAIRS/SOARS risk-rating model which was also adopted. It observes that the approach provides an analytical discipline to risk assessment, strengthens the link between risk assessment and supervisory response, and allows better targeting of supervisory resources.
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 A List of References written by and published by . This book was released on 1929 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Management and Regulation of Pension Schemes written by Nicholas Morris and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction -- System design and problems -- The evolution of the Australian pension system -- Empirical evidence on costs and performance -- Lessons from Australia -- What can be done now -- Conclusions
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 Final Report of the National Superannuation Committee of Inquiry Occupational superannuation in Australia written by Australia. National Superannuation Committee of Inquiry and published by . This book was released on 1976 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Part two of final report and recommendations on a national level pension scheme in Australia - sees the role of occupational superannuation as a complement to old age benefits and covers maintenance of acquired rightss, taxation and administrative aspects. References and statistical tables.
Download or read book Beyond the Welfare State written by Sirvan Karimi and published by University of Toronto Press. This book was released on 2017-01-01 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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 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 Social Security Pensions written by C. Gillion and published by International Labor Office. This book was released on 2000 with total page 808 pages. Available in PDF, EPUB and Kindle. Book excerpt: By providing a balanced assessment and factual review of the praticalities and structure behind various pension schemes around the world, this book assists decision-makers in forming effective, viable pension policy.
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.
Download or read book Privatizing Social Security written by Martin Feldstein and published by University of Chicago Press. This book was released on 2008-04-15 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume represents the most important work to date on one of the pressing policy issues of the moment: the privatization of social security. Although social security is facing enormous fiscal pressure in the face of an aging population, there has been relatively little published on the fundamentals of essential reform through privatization. Privatizing Social Security fills this void by studying the methods and problems involved in shifting from the current system to one based on mandatory saving in individual accounts. "Timely and important. . . . [Privatizing Social Security] presents a forceful case for a radical shift from the existing unfunded, pay-as-you-go single national program to a mandatory funded program with individual savings accounts. . . . An extensive analysis of how a privatized plan would work in the United States is supplemented with the experiences of five other countries that have privatized plans." —Library Journal "[A] high-powered collection of essays by top experts in the field."—Timothy Taylor, Public Interest
Download or read book Social Security in Australia 1900 72 written by Thomas Henry Kewley and published by [Sydney] : Sydney University Press. This book was released on 1973 with total page 616 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph on the evolution of the social security scheme in Australia from 1900 to 1972 - comments on legislation relating to old age benefits, maternity benefits, disability benefits, unemployment benefit, family benefits, survivors benefits, the national level welfare fund, health insurance, etc., and covers the development of health services, vocational rehabilitation, sheltered workshops, pension schemes, housing for older people, etc. Bibliography pp. 566 to 574 and statistical tables.
Download or read book The Parliamentary Contributory Superannuation Scheme the Judges Pension Scheme written by Australia. Parliament. Senate. Select Committee on Superannuation and published by . This book was released on 1997 with total page 103 pages. Available in PDF, EPUB and Kindle. Book excerpt:
