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Author: Hazel Bateman
Publisher:
ISBN: 9780733414947
Category : Pension trusts
Languages : en
Pages : 30
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Book Description
Author: Hazel Bateman
Publisher:
ISBN: 9780733414947
Category : Pension trusts
Languages : en
Pages : 30
Get Book Here
Book Description
Author: Hazel Bateman
Publisher:
ISBN:
Category : Pension trusts
Languages : en
Pages : 66
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Book Description
Author: Hazel Bateman
Publisher:
ISBN: 9780733417016
Category : Pension trusts
Languages : en
Pages : 28
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Book Description
Author: Hazel Bateman
Publisher: Cambridge University Press
ISBN: 9780521484718
Category : Biography & Autobiography
Languages : en
Pages : 278
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Book Description
Forced Saving, first published in 2001, offers an analysis of pension policy from an economic perspective. It begins with an overview of the problem of population ageing around the world, and then provides a framework within which policy responses may be consistently assessed. It focuses on the 'mandating' approach to retirement income policy, in which governments are compelling individuals - or their employers - to take on this responsibility, at least in part. The role of government becomes limited to one of mandating contributions from wages, along with regulating private fund managers to a greater or lesser extent. The authors explore the implications of introducing such a policy reform. They argue that while there is no universal agreement on the relative costs and benefits of this policy approach, there are often some advantages to moving at least some distance down the mandating path.
Author: Garry Barrett
Publisher:
ISBN:
Category :
Languages : en
Pages : 21
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Book Description
Author: Malcolm L. Edey
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 35
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Book Description
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.
Author: Stephen Kirchner
Publisher:
ISBN:
Category : Individual retirement accounts
Languages : en
Pages : 16
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Book Description
Author: Gregory Gordon Brunner
Publisher:
ISBN:
Category : Bankruptcy and Resolution of Financial Distress
Languages : en
Pages : 52
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Book Description
Abstract: Australia introduced a mandatory retirement savings scheme in 1992. This built on pre-existing voluntary occupational plans. The new scheme has been very successful in expanding coverage and mobilizing large financial savings that are equal to close to 100 percent of GDP. However, Australia does not impose restrictions on payout options. The payout phase used to be dominated by lump sum withdrawals, which accounted for 80 percent of benefit payments as recently as 2002. But pension payments increased in recent years and now represent 45 percent of total payments. The vast majority of these pension payments take the form of term annuities and allocated annuities. The latter are similar to phased withdrawals in Chile but run for fixed terms of up to 25 years rather than for lifetime terms. The demand for life annuities and lifetime phased withdrawals is very limited. The paper discusses the factors that have shaped the pattern of demand for retirement products, including the availability of the universal age pension and the effect of clawback provisions, the impact of the high level of home ownership, and the widespread preference of retiring workers for reliance on self-annuitization. The paper also reviews the prudential regulation of superannuation funds and life insurance companies.
Author: Gregory Gordon Brunner
Publisher:
ISBN:
Category :
Languages : en
Pages : 52
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Book Description
Australia introduced a mandatory retirement savings scheme in 1992. This built on pre-existing voluntary occupational plans. The new scheme has been very successful in expanding coverage and mobilizing large financial savings that are equal to close to 100 percent of GDP. However, Australia does not impose restrictions on payout options. The payout phase used to be dominated by lump sum withdrawals, which accounted for 80 percent of benefit payments as recently as 2002. But pension payments increased in recent years and now represent 45 percent of total payments. The vast majority of these pension payments take the form of term annuities and allocated annuities. The latter are similar to phased withdrawals in Chile but run for fixed terms of up to 25 years rather than for lifetime terms. The demand for life annuities and lifetime phased withdrawals is very limited. The paper discusses the factors that have shaped the pattern of demand for retirement products, including the availability of the universal age pension and the effect of clawback provisions, the impact of the high level of home ownership, and the widespread preference of retiring workers for reliance on self-annuitization. The paper also reviews the prudential regulation of superannuation funds and life insurance companies.
Author: Hazel Bateman
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
