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 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 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 Reform of the Australian Retirement Income System written by and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 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 Development of Treasury s New Model of Australian Retirement Incomes and Assets MARIA written by Bruce Bastian and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Treasury currently has a project underway to significantly enhance its capability to produce detailed modelling of retirement incomes in Australia. The Model of Australian Retirement Incomes and Assets (MARIA) is a long-term dynamic microsimulation model of Australia's retirement income system. When fully operational, MARIA will provide whole-of-population projections beyond the medium term of: Age Pension expenditure and take-up; superannuation funds under management; and retirement income adequacy. It will also enable detailed distributional analysis of both current and hypothetical policy settings. This paper provides high-level details of the model and outlines a number of challenges and research questions for further consideration by Treasury and interested researchers.
Download or read book The Revolution that Faltered written by Allan Borowski and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 1980s, Australia's retirement income system became the subject of ongoing reform. A number of the reform objectives were quite revolutionary but some remain much further from realization than was expected, with major consequences for future retirees. In this sense, Australia's retirement income revolution has faltered. This paper (1) outlines the main features of Australia's retirement income system prior to the 1980s, (2) presents the reform objectives and explains the sense in which they were "revolutionary", (3) describes some of the major changes, their achievements, and how and why a number remain further from realization than expected, (4) considers two more recent objectives and (5) outlines the challenges that remain.
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 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 Towards a National Retirement Incomes Policy written by Chris Foster and published by . This book was released on 1988 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Costs of Running Australia s Retirement Income System written by Ross Clare and published by . This book was released on 1998 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Australia s Future Tax System written by and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Australia s Future Tax System written by and published by . This book was released on 2008 with total page 53 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 Retirement Saving in Australia written by Garry Barrett and published by . This book was released on 2007 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
