The Efficiency Of The Retirement Income System In Australia During Financial Reforms PDF Download
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| Author | : Matarr Njie |
| Publisher | : |
| Total Pages | : 39 |
| Release | : 2007 |
| Genre | : |
| ISBN | : |
Download The Efficiency of the Retirement Income System in Australia During Financial Reforms Book in PDF, ePub and Kindle
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 | : Samuel Pienknagura |
| Publisher | : International Monetary Fund |
| Total Pages | : 52 |
| Release | : 2021-09-10 |
| Genre | : Business & Economics |
| ISBN | : 151359611X |
Download Assessing Chile's Pension System: Challenges and Reform Options Book in PDF, ePub and Kindle
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.
| Author | : Diana Warren |
| Publisher | : |
| Total Pages | : 38 |
| Release | : 2008 |
| Genre | : Older people |
| ISBN | : 9780734032911 |
Download Australia's Retirement Income System Book in PDF, ePub and Kindle
| Author | : Australia. Parliament. Senate. Standing Committee on Community Affairs |
| Publisher | : |
| Total Pages | : 480 |
| Release | : 1988 |
| Genre | : Business & Economics |
| ISBN | : |
Download Income Support for the Retired and the Aged Book in PDF, ePub and Kindle
| Author | : Rafal Chomik |
| Publisher | : |
| Total Pages | : 24 |
| Release | : 2020 |
| Genre | : |
| ISBN | : |
Download The Australian Retirement Income System Book in PDF, ePub and Kindle
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 | : |
| Publisher | : |
| Total Pages | : |
| Release | : 2009 |
| Genre | : Old age pensions |
| ISBN | : |
Download Reform of the Australian Retirement Income System Book in PDF, ePub and Kindle
| Author | : John Daley |
| Publisher | : |
| Total Pages | : |
| Release | : 2018-11-06 |
| Genre | : |
| ISBN | : 9780648331179 |
Download Money in Retirement Book in PDF, ePub and Kindle
| Author | : OECD |
| Publisher | : OECD Publishing |
| Total Pages | : 283 |
| Release | : 2009-10-15 |
| Genre | : |
| ISBN | : 9264063455 |
Download Pensions at a Glance 2009 Retirement-Income Systems in OECD Countries Book in PDF, ePub and Kindle
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.
| Author | : Mr. Alvar Kangur |
| Publisher | : International Monetary Fund |
| Total Pages | : 26 |
| Release | : 2021-07-16 |
| Genre | : Business & Economics |
| ISBN | : 1513588842 |
Download Reforming the Greek Pension System Book in PDF, ePub and Kindle
The Greek pension system has been costly, complex, and distortive, which has contributed to Greece’s fiscal problems and discouraged labor force participation. Several attempts to reform the system faltered due to lack of implementation, pushback by vested interests, and court rulings leading to reversals. A series of reforms introduced throughout 2015–17 unified benefit and contribution rules, removed several distortions and reduced fragmentation and costs. If fully implemented throughout the long-term, these reforms can go a long way towards enhancing the pension system affordability. However, reforms faced setbacks and fell short of creating stronger incentives to build long contribution histories, to deliver sustainable growth by improving the fiscal policy mix, and to ensure fairness and equitable burden sharing across generations and interest groups. Policy priorities should aim towards fully implementing the 2015–17 reforms and complementing them with additional reforms to address these remaining objectives.
| Author | : Malcolm L. Edey |
| Publisher | : |
| Total Pages | : 35 |
| Release | : 1996 |
| Genre | : Capital market |
| ISBN | : |
Download Australia's Retirement Income System Book in PDF, ePub and Kindle
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.
