Reforming the Australian retirement system

Sass, Steven A. “Reforming the Australian retirement system”. Global Issue in Brief 2, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, April 2004. http://hdl.handle.net/2345/bc-ir:104496.
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Abstract

Australia's new retirement income system combines two components. The first is the Age Pension - a means-tested allowance, funded out of general government revenues, which was put in place as a welfare program in 1908. After its expansion in the 1970s, the Age Pension has become more of a universal entitlement with a claw back that reduces, then eliminates, benefits for upper-income recipients. The second component is the Superannuation Guarantee (SG) - a mandatory defined contribution savings program put in place in 1992, which takes 9 percent of earnings. Preexisting employer defined benefit pension programs are also adopting the SG's defined contribution format...

Title
Reforming the Australian retirement system: Mandating individual accounts
Author
Sass, Steven A.
Center
Center for Retirement Research
Genre
report
Date Issued
April 2004
Publisher
Center for Retirement Research at Boston College
Series Title
Global Issue in Brief
Series Number
2
Version Identification
Version of record.
Persistent Link
http://hdl.handle.net/2345/bc-ir:104496
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Financing Retirement

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