Retirement Incomes for an Ageing Australia

Abstract

Over the past 100 years, retirement income provision in Australia has evolved into a multi-pillar arrangement comprising the Age Pension, the Superannuation Guarantee and voluntary retirement saving. With fully funded superannuation and a public pension that is both less generous than many other countries and means tested, Australia's retirement income arrangements are well placed to cope with population ageing. However concerns remain in relation to adequacy, efficiency and the vulnerability of private provision to trends in labour, economic and financial markets.