Reform of the Australian Retirement Income System
Author | : |
Publisher | : |
Total Pages | : |
Release | : 2009 |
Genre | : Old age pensions |
ISBN | : |
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Author | : |
Publisher | : |
Total Pages | : |
Release | : 2009 |
Genre | : Old age pensions |
ISBN | : |
Author | : Diana Warren |
Publisher | : |
Total Pages | : 38 |
Release | : 2008 |
Genre | : Older people |
ISBN | : 9780734032911 |
Author | : Allan Borowski |
Publisher | : |
Total Pages | : 0 |
Release | : 2009 |
Genre | : |
ISBN | : |
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.
Author | : Rafal Chomik |
Publisher | : |
Total Pages | : 24 |
Release | : 2020 |
Genre | : |
ISBN | : |
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.
Author | : Matarr Njie |
Publisher | : |
Total Pages | : 39 |
Release | : 2007 |
Genre | : |
ISBN | : |
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.
Author | : Australia. Parliament. Senate. Standing Committee on Community Affairs |
Publisher | : |
Total Pages | : 480 |
Release | : 1988 |
Genre | : Business & Economics |
ISBN | : |
Author | : David Ingles |
Publisher | : |
Total Pages | : 20 |
Release | : 2017 |
Genre | : |
ISBN | : |
Australia's retirement income system combines private and public provision for old age. Retirees rely on private (but highly regulated) superannuation saving that attracts large tax concessions; a public, means-tested age pension; home ownership; and other private savings. Despite recent changes intended to make the system fairer and more fiscally sustainable, Australia's retirement income system still lacks coherence, produces inequitable outcomes and creates high effective tax rates on work and saving. This article proposes a more coherent approach to address fairness, reduce the effective tax rates on work and saving and provide adequate earnings replacement rates with greater fiscal sustainability than is delivered in the recent reforms.
Author | : Australia. Minister for Social Security |
Publisher | : |
Total Pages | : 65 |
Release | : 1989 |
Genre | : Old age pensions |
ISBN | : 9780644098700 |
Author | : Sirvan Karimi |
Publisher | : University of Toronto Press |
Total Pages | : 360 |
Release | : 2017-01-18 |
Genre | : Political Science |
ISBN | : 1487510969 |
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.
Author | : Steven A. Sass |
Publisher | : |
Total Pages | : 14 |
Release | : 2004 |
Genre | : Individual retirement accounts |
ISBN | : |