Retirement income policies in Australia and New Zealand: Facing the fiscal challenge from an ageing population
Gill, Derek; Hensen, Mike; Wilson, Peter | March 2018
Abstract
Chartered Accountants Australia and New Zealand (CAANZ), as part of their Future Inc series, commissioned research from NZIER that explored public attitudes to the future of retirement income policies in Australasia. New Zealand and Australia are different jurisdictions but with the same ‘retiree funding’ problem. The countries are similar in that they both have a general tax funded Pillar 1 superannuation scheme. Both Pillar 1 schemes are reasonably generous (by OECD standards at least). However, the overall cost of the scheme in New Zealand is 1% of GDP higher after allowing for tax concessions etc. This project compares the attitudes to retirement income policies in the two jurisdictions and examines why it is difficult to get durable changes in retirement policy onto the agenda in both countries.
Citation
Gill, Derek; Hensen, Mike; Wilson, Peter. 2018. Retirement income policies in Australia and New Zealand: Facing the fiscal challenge from an ageing population. © New Zealand Institute of Economic Research. http://hdl.handle.net/11540/8514.Keywords
Public Financial Management
Financial System
Financial Statistics
Foreign and Domestic Financing
Pension Funds
Mutual Funds
Social Equity
Financial Aspects
Fiscal Policy
Pension plans
Individual retirement accounts
Employee pension trusts
Investment management
Investments
Multiemployer pension plans
Keogh plans
Individual retirement accounts
Pension plans
Employee pension trusts
Pension trusts
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