Affiliation:
1. School of Economics, University of New South Wales Sydney, Australia
2. Melbourne Institute of Applied Economic and Social Research University of Melbourne, Australia
Abstract
Australia's retirement income system has two distinctive features: a means-tested public pension, and a policy mandating private retirement saving. These programs have gained increasing international attention as countries address the challenges posed by population aging. In this paper the institutional features of the retirement income system in Australia are outlined and contrasted to the Canadian retirement income system, with an emphasis on private incentives to save. The savings behaviour of current Australian retirees is examined, and the expectations of future retirees considered. Lessons from the Australian experience are drawn, which may inform Canada and other countries as they reform their retirement income system.
Publisher
University of Toronto Press Inc. (UTPress)
Subject
Public Administration,Sociology and Political Science
Reference20 articles.
1. Social Security and Households' Saving
2. Pension Wealth and Household Saving: Evidence from Pension Reforms in the United Kingdom
3. Australia. Productivity Commission (2004).“Economic Implications of an Ageing Australia.”.Melbourne:Productivity CommissionDraft research report
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