Journal articles: 'Retirement income – Australia'

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Bateman, Hazel. "Retirement Income Strategy in Australia." Economic Analysis and Policy 32, no. 1 (March 2002): 49–70. http://dx.doi.org/10.1016/s0313-5926(02)50006-0.

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Xu, Xiaobo, Martin Young, Liping Zou, and Jiali Fang. "Retirement Income Sufficiency: A Comparison Study in Australia and New Zealand." Journal of Risk and Financial Management 16, no. 2 (February 15, 2023): 124. http://dx.doi.org/10.3390/jrfm16020124.

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We use the 2018 survey data from the Household, Income, and Labour Dynamic (HILDA) in Australia and the Household Economic Survey (HES) in New Zealand to investigate the retirement income sufficiency in Australia and New Zealand. Our baseline results indicate that the annuitized net wealth is greater for Australian retirees than for New Zealand retirees. However, New Zealand retirees enjoy a higher level of life satisfaction than Australian retirees. Further analysis reveals a significant greater pre- and postretirement income for the top 10% of wealthy Australian retirees, mainly due to the higher level of homeownership in Australia within this group. Our study fills the gap in the existing literature, which studies the macro- and microlevel influences on Australia and New Zealand retirees, and it also offers important policy implications.

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Fry, Jane M., Lisa Farrell, and Jeromey B. Temple. "Energy poverty and retirement income sources in Australia." Energy Economics 106 (February 2022): 105793. http://dx.doi.org/10.1016/j.eneco.2021.105793.

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Atkinson, M. E., John Creedy, and D. M. Knox. "Planning Retirement Income in Australia: Routes through the Maze." Australian Economic Review 28, no. 4 (October 1995): 15–28. http://dx.doi.org/10.1111/j.1467-8462.1995.tb00901.x.

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Bird, Graham. "Income products for the post-retirement market in Australia." Pensions: An International Journal 10, no. 2 (March 2005): 124–29. http://dx.doi.org/10.1057/palgrave.pm.5940299.

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Morgan, L. A., and S. A. Lothian. "Designing successful post-retirement solutions by blending growth, income and protection." British Actuarial Journal 22, no. 1 (March 2017): 177–206. http://dx.doi.org/10.1017/s1357321717000034.

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AbstractThe move from defined benefit to defined contribution (DC) has transferred the longevity and investment risks from the plan sponsor to the individual plan member. Without the actuarial cross-subsidies implied by pooling these risks, the danger of outliving one’s savings is significant. Much attention has been focussed on pre-retirement investment design but less on post-retirement. In most countries, the post-retirement systems in place are insufficient to solve this challenge for small asset sizes or small proportions of individuals’ retirement accounts. However, a number of DC markets are mature, such as Australia and Chile, and the principles of a solution that works for all must be identified. This paper researches a number of post-retirement systems around the world and identifies ten key factors that contribute to post-retirement solution design. These factors can result in an inconsistency between countries regarding the most appropriate post-retirement solution. Additionally, a disconnect is apparent between what retirees need and want in post-retirement. Successful post-retirement solutions will inevitably blend investment and insurance components in a balanced manner. With lengthening life expectancies, research supports strategies that blend a growth and income account-based approach for the first 15–20 years after retirement with longevity protection in later life.

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Beshears, John, James J. Choi, Joshua Hurwitz, David Laibson, and Brigitte C. Madrian. "Liquidity in Retirement Savings Systems: An International Comparison." American Economic Review 105, no. 5 (May 1, 2015): 420–25. http://dx.doi.org/10.1257/aer.p20151004.

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We compare the liquidity that six developed countries have built into their employer-based defined contribution (DC) retirement schemes. In Germany, Singapore, and the UK, withdrawals are essentially banned no matter what kind of transitory income shock the household realizes. By contrast, in Canada and Australia, liquidity is state-contingent. For a middle-income household, DC accounts are completely illiquid unless annual income falls substantially, in which case DC assets become highly liquid. The US stands alone in the universally high liquidity of its DC system: whether or not income falls, the penalties for early withdrawal are low or non-existent.

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KIM, SARANG, KERRY A. SARGENT-COX, DAVINA J. FRENCH, HAL KENDIG, and KAARIN J. ANSTEY. "Cross-national insights into the relationship between wealth and wellbeing: a comparison between Australia, the United States of America and South Korea." Ageing and Society 32, no. 1 (February 24, 2011): 41–59. http://dx.doi.org/10.1017/s0144686x11000080.

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ABSTRACTThe positive relationship between wealth and wellbeing has received considerable attention over the last three decades. However, little is known about how the significance of wealth for the health and wellbeing of older adults may vary across societies. Furthermore, researchers tend to focus mainly on income rather than other aspects of financial resources even though older adults often rely on fixed income, particularly after retirement. Using data from the Household, Income and Labour Dynamics in Australia (HILDA) survey (N=1,431), the Health and Retirement Study (HRS) in the United States of America (USA; N=4,687), and the Korean Longitudinal Study of Ageing (KLoSA; N=5,447), this exploratory cross-national study examined the relationship between wealth satisfaction and objective wealth and wellbeing (measured as self-rated health and life satisfaction) among older Australians, Americans and Koreans (50+ years). Regression analyses showed that wealth satisfaction was associated with wellbeing over and above monetary wealth in all three countries. The relationship between monetary wealth and self-rated health was larger for the US than Australian and Korean samples, while the additional contribution of wealth satisfaction to life satisfaction was larger for the Korean than the Australian and US samples. These findings are discussed in terms of the cultural and economic differences between these countries, particularly as they affect older persons.

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Austen, Siobhan, and Astghik Mavisakalyan. "Gender gaps in long-term earnings and retirement wealth: The effects of education and parenthood." Journal of Industrial Relations 60, no. 4 (May 1, 2018): 492–516. http://dx.doi.org/10.1177/0022185618767474.

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We measure gender gaps in long-term earnings and retirement wealth over the 15-year period from 2001 to 2015. Our analysis of data from the Housing, Income, and Labour Dynamics in Australia survey generates new estimates of the effects of education on men’s and women’s long-term earnings. These show that whilst university qualifications improve women’s long-term earnings, university education does not, on average, lift women’s earnings above those attained by men with a high school qualification. The increment in long-term earnings associated with parenthood also shows a large gender gap favouring men. Parenthood is associated with higher long-term earnings for men but on average this factor has a strong negative association with women’s earnings. The article also maps the consequences of the gender gap in long-term earnings for retirement wealth in the form of superannuation. The results show how the large gender gaps in retirement wealth reflect in large part the economic costs arising from the gendered division of roles associated with parenthood in many Australian households.

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McRae, Ian S., and Francesco Paolucci. "The global financial crisis and Australian general practice." Australian Health Review 35, no. 1 (2011): 32. http://dx.doi.org/10.1071/ah09830.

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Objective. To explore the potential effects of the global financial crisis (GFC) on the market for general practitioner (GP) services in Australia. Design. We estimate the impact of changes in unemployment rates on demand for GP services and the impact of lost asset values on GP retirement plans and work patterns. Combining these supply and demand effects, we estimate the potential effect of the GFC on the market for GP services under various scenarios. Results. If deferral of retirement increases GP availability by 2%, and historic trends to reduce GP working hours are halved, at the current level of ~5.2% unemployment average fees would decline by $0.23 per GP consultation and volumes of GP services would rise by 2.53% with almost no change in average GP gross earnings over what would otherwise have occurred. With 8.5% unemployment, as initially predicted by Treasury, GP fees would increase by $0.91 and GP income by nearly 3%. Conclusions. The GFC is likely to increase activity in the GP market and potentially to reduce fee levels relative to the pre-GFC trends. Net effects on average GP incomes are likely to be small at current unemployment levels. What is known about the topic? Although the broad directions of the impact of the global financial crisis on the demand for and supply of GP services have been the subject of public discussion, the overall impact on the GP market has not been formally assessed. What does this paper add? Drawing on existing supply and demand models, we estimate the likely effect of the global financial crisis on GP activity levels, GP earnings, and the fees to be faced by patients. What are the implications for practitioners? Practitioners on average are likely to work harder to recover losses in the investments they have made for their retirements. They may face lower fees than would have been the case due to the increasing supply of GPs as some defer retirement, but average incomes are likely to be minimally affected.

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Morgan, Lesley-Ann, Paul Marsden, Clement Yong, and Sean Markowicz. "Blending Growth, Income, and Protection to Create Default Post-Retirement Solutions for Australia and Hong Kong." Journal of Retirement 5, no. 3 (January 2, 2018): 93–107. http://dx.doi.org/10.3905/jor.2018.2018.1.036.

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Morgan, Lesley-Ann, Paul Marsden, Clement Yong, and Sean Markowicz. "Blending Growth, Income, and Protection to Create Default Post-Retirement Solutions for Australia and Hong Kong." Journal of Retirement 5, no. 3 (January 22, 2018): 93–107. http://dx.doi.org/10.3905/jor.2018.5.3.093.

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SY, WILSON. "Cost, performance and portfolio composition of small pension funds in Australia." Journal of Pension Economics and Finance 9, no. 3 (May 20, 2008): 345–68. http://dx.doi.org/10.1017/s1474747208003661.

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AbstractCompared with large institutional pension funds, there is relatively little published research on small funds, which are defined in the Australian superannuation legislation as pension funds with less than five members. Small funds account for more than 20% of total pension assets and they are one of the fastest growing sectors and therefore play a significant part in the savings strategy for national retirement income. This paper contributes to the needed research by analysing the more granular audited accounting data collected for the subset of small funds regulated by the Australian Prudential Regulation Authority (APRA) over the last few years. The analysis provides new insights into the operating costs involved in running the funds, the investment performances and portfolio compositions of Small APRA Funds (SAF).

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Saunders, Malcolm, and Neil Lloyd. "Holding Australia to Ransom: The Colston Affair, 1996–2003." Queensland Review 17, no. 1 (January 2010): 59–74. http://dx.doi.org/10.1017/s1321816600005262.

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Probably no one who has entered either federal or state Parliament in Australia departed from it as loathed and despised as Malcolm Arthur Colston. A Labor senator from Queensland between 1975 and 1996, he is remembered by that party as a ‘rat’ who betrayed it for the sake of personal advancement. Whereas many Labor parliamentarians – most notably Prime Minister ‘Billy’ Hughes in 1917 have left the party because they strongly disagreed with it over a major policy issue or a matter of principle, in the winter of 1996 Colston unashamedly left it to secure the deputy presidency of the Senate and the status, income and several other perquisites that went with it. Labor's bitterness towards Colston stems not merely from the fact that he showed extraordinary ingratitude towards a party that had allowed him a parliamentary career but more especially because, between his defection from the party in August 1996 and his retirement from Parliament in June 1999, his vote allowed the Liberal-National Party government led by John Howard to pass legislation through the Senate that might otherwise have been rejected.

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AUSTEN, SIOBHAN, and RACHEL ONG. "The employment transitions of mid-life women: health and care effects." Ageing and Society 30, no. 2 (December 10, 2009): 207–27. http://dx.doi.org/10.1017/s0144686x09990511.

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ABSTRACTThis article provides information on the movements into and out of paid work by mid-life women. This is a group whose representation in the paid workforce is growing as population ageing proceeds and as educational qualifications expand. It is also a group that will be critical to any labour supply response to the economic challenges posed by population ageing. However, current understandings of the needs and circumstances of mid-life women in paid work are limited. To help address this knowledge gap we use data from the first five waves of the Household, Income and Labour Dynamics in Australia survey (2001–2005) to identify the causal influences of health, care and other factors on the ability of mid-life women to remain in and re-enter paid work. The results show that poor health and/or substantial care roles have a negative impact on the employment chances of this group. However, importantly, there is asymmetry in these health and care effects, in that improvements in health and/or reductions in care roles do not increase the chances of returning to paid work. This finding indicates that many mid-life women who experience poor health and/or undertake large care roles face substantial long-term negative consequences for their employment chances and, thus, their retirement and pre-retirement incomes.

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Cooke, Martin. "Policy Changes and the Labour Force Participation of Older Workers: Evidence from Six Countries." Canadian Journal on Aging / La Revue canadienne du vieillissement 25, no. 4 (2006): 387–400. http://dx.doi.org/10.1353/cja.2007.0015.

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ABSTRACTIn response to the anticipated pressures of population aging, national governments and supranational bodies such as the Organisation for Economic Co-operation and Development (OECD) and the European Union (EU) have promoted policies to encourage the labour force participation of older workers. The recent elimination of mandatory retirement in Ontario is an example of such a policy, and others include changes to national pension systems and changes to disability and employment insurance programs, active labour-market policies, and the promotion of phased or gradual retirement. This paper reviews the different policy approaches taken in the six countries included in the Workforce Aging in the New Economy (WANE) project, placing Canadian policy approaches in relation to those taken in Australia, Germany, the Netherlands, the United Kingdom, and the United States. From the life course perspective, the policy approaches discussed here do not consider the heterogeneity of older workers' life courses or the related domains of health and family. As well, the changes made thus far do not appear likely to lead to increased labour force participation by older workers, and some may leave older workers at greater risk of low income and low-wage work.

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Cummins, Phyllis, Takashi Yamashita, and Christopher Phillipson. "DISPARITIES IN HUMAN CAPITAL INVESTMENT OVER THE GENDERED LIFE COURSE: AN INTERNATIONAL COMPARISON." Innovation in Aging 3, Supplement_1 (November 2019): S3—S4. http://dx.doi.org/10.1093/geroni/igz038.009.

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Abstract Income disparities by gender are a persistent problem throughout the world. These disparities place women at risk for economic insecurity both while working and in retirement. Education and continued skill upgrading are key to reducing income disparities, but it is well documented that both older men and women are less likely to participate in adult education and training (AET) than their younger counterparts. In this symposium we present gender and age-based differences in AET in Australia, Canada, England/Northern Ireland and the United States. Also, given the increasing use of technology, technology-related problem-solving skills are compared across these four nations. In addition, we discuss current, and potentially new, country level policies and practices that facilitate the provision of AET over the second half of the life course. Yamashita and colleagues use data from the Program for the International Assessment of Adult Competencies (PIAAC) to provide an overview of AET participation, income, and technology-related problem-solving skills by sex and age groups in the four countries. Vickerstaff and van der Horst use data from five different organizations in the United Kingdom to examine attitudes of older workers about participation in training and the extent to which these attitudes result from self-imposed ageism. Taylor presents survey data from Australia that analyzes types of training women are undertaking, factors associated with participation in training, and the importance of employer support. Finally, Harrington and Cummins use PIAAC data to analyze age variations in AET participation and gender differences in employer sponsored training in Canada.

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Moore, David R. J., and Nick Sciulli. "Sustainable Development Goal Disclosures within Australian Superannuation Funds: An Exploratory Study." Australasian Business, Accounting and Finance Journal 16, no. 2 (2022): 72–90. http://dx.doi.org/10.14453/aabfj.v16i2.6.

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The financial reporting landscape is continuing to expand with both regulated and voluntary disclosures making their way into various reporting frameworks. This increased attention to disclosures is being pursued by professional bodies, governments, companies and other organisations given the changing demands by stakeholders for sustainability disclosures. The Australian superannuation industry is a compulsory system developed to ensure a comfortable retirement income for members. It is now a trillion-dollar business and therefore, has significant influence on the investment decisions that it makes on behalf of its members. The United Nations Sustainable Development Goals (UN SDGs) are increasingly being used as a signal to the market that an organisation is meeting the demands of stakeholders. The objective of this study is exploratory in nature, investigating the types of SDG disclosures made by the largest superannuation funds in Australia. Data was collected through a content analysis of the annual and/or supplementary reports produced by Australian superannuation funds. The findings suggest that Australian superannuation funds currently disclose a minimal level information in accordance with the SDGs in different reporting formats and the SDGs tends to prevail where superannuation managers believe they can have the most impact. Our results have implications for SDG reporting, policy and management practice. Future research that helps explain how managers choose which SDGs to report would be a useful contribution in the context of superannuation.

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McCormack, John. "Population Ageing and Retirement Income in Australia. Paul Johnson. 1996. Grey horizons: who pays for old age in the 21st century? Australian Economic Review, 3, 261–271. David Knox. 1996. Contemporary issues in the ongoing reform of the Australian retirement income system. Australian Economic Review, 2, 199–210. Diana Olsberg. 1994. Still missing out: women, superannuation and retirement income. Just Policy, 1, November, 45–49." Ageing and Society 17, no. 3 (May 1997): 349–52. http://dx.doi.org/10.1017/s0144686x97006405.

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Schofield, Deborah, Michelle Cunich, Simon Kelly, Megan E. Passey, Rupendra Shrestha, Emily Callander, Robert Tanton, and Lennert Veerman. "The Impact of Diabetes on the Labour Force Participation, Savings and Retirement Income of Workers Aged 45-64 Years in Australia." PLOS ONE 10, no. 2 (February 23, 2015): e0116860. http://dx.doi.org/10.1371/journal.pone.0116860.

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West, Tracey, and Andrew Worthington. "The impact of major life events on household asset portfolio rebalancing." Studies in Economics and Finance 36, no. 3 (July 26, 2019): 334–47. http://dx.doi.org/10.1108/sef-11-2017-0318.

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Purpose This paper aims to model the asset portfolio rebalancing decisions of Australian households experiencing a severe life event shock. Design/methodology/approach The paper uses household longitudinal data from the Household, Income, and Labour Dynamics in Australia (HILDA) survey since 2001. The major life events are serious illness or injury, death of a spouse, job dismissal or redundancy and separation from a spouse. The asset classes are bank accounts, cash investments, equities, superannuation (private pensions), life insurance, trust funds, owner-occupied housing, investor housing, business assets, vehicles and collectibles. The authors use both static and dynamic Tobit models to assess the impact and duration of impact of the shocks. Findings Serious illness and injury, loss of employment, separation and spousal death cause households to rebalance portfolios in ways that can have detrimental effects on long-term wealth accumulation through poor market timing and the incurring of transaction costs. Research limitations/implications The survey results are only available since 2001, and the wealth module from which the asset data are drawn is self-reported and not available every year. Practical implications Relevant to policymakers working on the ongoing retirement of the “baby boomer” generation and for financial planners guiding household investment decisions. Originality/value Most research on shocks to household wealth concern a narrower range of assets and only limited shocks. Also, this is one of the few studies to use a random effects model to allow for unspecified heterogeneity among households.

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Stronach, Megan Marie, and Daryl Adair. "Lords of the Square Ring: Future Capital and Career Transition Issues for Elite Indigenous Australian Boxers." Cosmopolitan Civil Societies: An Interdisciplinary Journal 2, no. 2 (June 16, 2010): 46–70. http://dx.doi.org/10.5130/ccs.v2i2.1512.

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In Australia a serious and widely documented statistical gap exists between the socio-economic circumstances of the country’s Indigenous and non-Indigenous populations. Areas of divergence include life expectancy, health, housing, income, and educational opportunity and employment. This has made career attainment problematic for most Aboriginal people. Among male Indigenous people, professional sport is portrayed as one of the few realms in which they can prosper. This is particularly true in the major football codes – Australian Rules and rugby league – and a feature of elite-level boxing, where Indigenous fighters are also statistically over-represented. However, while sport has provided opportunities for a small number of talented Indigenous athletes, it has rarely been a pathway to lifelong prosperity. This paper contends that as a result of over-reliance on an abundant bank of physical capital, Indigenous Australian boxers are particularly vulnerable to potential occupational obsolescence should their bodily assets erode more quickly than envisaged. Drawing on an Indigenous concept, Dadirri, to inform a wider interpretive phenomenological approach, the paper examines retirement experiences of fourteen elite male Indigenous Australian boxers; the goal of this research is to understand their post-sport career decision making. In this respect, Pierre Bourdieu’s concepts of habitus, capital and field are utilised to frame and interpret the capacity of Indigenous boxers to develop sustainable career pathways – which we describe as future capital – during their time as elite athletes. For this group of athletes, being an Indigenous person was found to be a significant factor in their decision-making to enter the sport, which may then leave them open to exploitation within the field. Many boxers find their engagement with education and vocational training remains restricted to occupations that complement an Indigenous sense of cultural capital. This involves, as with other ethnocultural groups, particular notions of kinship and family obligation that in turn shape individual aspirations and behaviours. Indigenous Australian boxers remain largely unaware or removed from the possibility of pursuing career pathways beyond those that draw upon or accentuate their physicality.

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King, Anthony, Agnes Walker, and Ann Harding. "Perspectives on Australian Retirement Incomes." Australian Economic Review 34, no. 2 (June 2001): 155–69. http://dx.doi.org/10.1111/1467-8462.00185.

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Bateman, Hazel. "Retirement Incomes for an Ageing Australia." Economic and Labour Relations Review 15, no. 2 (January 2005): 284–308. http://dx.doi.org/10.1177/103530460501500208.

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Borowski, A. "The 'Revolution' in Australian Retirement Income Policy." Gerontologist 27, no. 4 (August 1, 1987): 478–86. http://dx.doi.org/10.1093/geront/27.4.478.

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GRUEN, F. H. "Australian Government Policy on Retirement Incomes." Economic Record 61, no. 3 (September 1985): 613–21. http://dx.doi.org/10.1111/j.1475-4932.1985.tb02016.x.

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Warren, Geoffrey J. "MySuper Vs. KiwiSaver: Retirement Saving For The Less Engaged." Applied Finance Letters 3, no. 2 (November 30, 2014): 2. http://dx.doi.org/10.24135/afl.v3i2.21.

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Australia’s MySuper default superannuation funds are compared against New Zealand’s range of KiwiSaver funds. Some key points of contrast include: the relative maturity and larger balances of the Australian system; the majority of MySuper providers are not-for-profit, whereas KiwiSaver is dominated by for-profit providers; MySuper funds use a much broader range of assets, while KiwiSaver funds invest largely in listed assets; greater use of lifecycle strategies in Australia; the skew to conservative funds under KiwiSaver; and differing fee structures, the impact of which depends on account balance. It is argued that New Zealand could do more to enhance the probability of achieving adequate incomes in retirement.

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JEFFERSON, THERESE. "Women and Retirement Incomes in Australia: A Review*." Economic Record 81, no. 254 (September 2005): 273–91. http://dx.doi.org/10.1111/j.1475-4932.2005.00261.x.

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Rosenman, Linda, and Jeni Warburton. "Restructuring Australian retirement incomes: Implications of changing work and retirement patterns." International Social Security Review 49, no. 4 (October 1996): 5–24. http://dx.doi.org/10.1111/j.1468-246x.1996.tb01047.x.

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Martin, B., and N. Xiang. "The Australian Retirement Income System: Structure, Effects and Future." Work, Aging and Retirement 1, no. 2 (March 11, 2015): 133–43. http://dx.doi.org/10.1093/workar/wav003.

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Ganegoda, Amandha, and John Evans. "The Australian retirement lottery: A system failure." Australian Journal of Management 42, no. 1 (July 9, 2016): 3–31. http://dx.doi.org/10.1177/0312896214554267.

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The purpose of this paper is to assess the adequacy of the Australian retirement system to fund the needs of retirees by taking into account both the Knightian risk arising from market volatility under normal market conditions as well as the Knightian uncertainty arising from rare but severe market shocks. We have also taken into account changes in employment during the pre-retirement phase. Given the low frequency, high impact of market shocks, the result is that cohorts of Australian retirees will enjoy very different levels of retirement income and there will be consequent shocks to the demand for the Age Pension supplement and potentially, significant variations in the standard of living in retirement for Australian employees. Whilst the Australian retirement system has been put forward as a model for other economies to follow, we find there is a fundamental flaw in the system.

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Borowski, Allan. "The economics and politics of retirement incomes policy in Australia." International Social Security Review 44, no. 1-2 (January 1991): 27–40. http://dx.doi.org/10.1111/j.1468-246x.1991.tb00883.x.

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Knox, David M. "Contemporary Issues in the Ongoing Reform of the Australian Retirement Income System." Australian Economic Review 29, no. 2 (April 1996): 199–210. http://dx.doi.org/10.1111/j.1467-8462.1996.tb00925.x.

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Borowski, Allan. "Back at the Crossroads: The Slippery Fish of Australian Retirement Income Policy." Australian Journal of Social Issues 43, no. 2 (December 2008): 311–34. http://dx.doi.org/10.1002/j.1839-4655.2008.tb00104.x.

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McCallum, J. "THE PUBLIC VERSUS THE POLICIES: THE ETHICAL BASIS OF AUSTRALIAN RETIREMENT INCOME POLICY." Australian Journal on Ageing 9, no. 1 (February 1990): 3–9. http://dx.doi.org/10.1111/j.1741-6612.1990.tb00782.x.

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Li, Wendy, and Nerina Caltabiano. "Prevalence of substance abuse and socio-economic differences in substance abuse in an Australian community-dwelling elderly sample." Health Psychology Open 4, no. 1 (January 2017): 205510291770813. http://dx.doi.org/10.1177/2055102917708136.

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A sample of 324 55–90-year-old Australian adults participated in a survey on elderly substance abuse using the Clinical Assessment Scales for the Elderly. Overall, males had a higher prevalence rate of substance abuse than females. Significant differences in substance abuse mean scores were found for gender, age, income, community involvement, and retirement. The findings also reveal that being a female, involved in community groups, being a retiree, and being a non-baby boomer are protective factors of substance abuse. Being an upper medium income earner appears to be a risk factor of substance abuse.

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Oxman, Bernard H., and Stefan A. Riesenfeld. "France—immunity from taxation under ICJ Statute—effect of customary international law in French administrative courts." American Journal of International Law 92, no. 4 (October 1998): 764–65. http://dx.doi.org/10.2307/2998143.

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In Re Aquarone. 101 Revue Générale de Droit International Public 838 (1997).Conseil d'Etat (Assemblée), June 6, 1997.In this case, the French Council of State, sitting in its most authoritative formation, had to pass on a petition by Stanislav Aquarone for review of a judgment of the administrative court of appeal of Lyon, dismissing his request for annulment of die imposition by France of income taxes on his retirement pension for the years 1981-1986, paid by the United Nations. In a carefully crafted opinion, the highest administrative court of France rejected die petition and die claim of immunity from taxation of his retirement pay by Aquarone, a former Registrar of the International Court of Justice and an Australian national now living in Gordes, France.

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Gallery, Gerry, and Natalie Gallery. "Paradox of choice in a mandatory pension savings system: challenges for Australian retirement income policy." Policy & Politics 33, no. 3 (July 1, 2005): 519–32. http://dx.doi.org/10.1332/0305573054325675.

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Asher, Anthony, Ramona Meyricke, Susan Thorp, and Shang Wu. "Age pensioner decumulation: Responses to incentives, uncertainty and family need." Australian Journal of Management 42, no. 4 (May 3, 2017): 583–607. http://dx.doi.org/10.1177/0312896216682577.

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Effective design and regulation of retirement benefits require accurate understanding of how the elderly decumulate. We analyse the income, assets and decumulation patterns of a longitudinal panel of 10,000 Australian age pensioners. On average, age pensioners preserve financial and residential wealth and leave substantial bequests. There is, however, considerable heterogeneity in decumulation patterns. Younger households generally run down financial wealth, while older households maintain their assets or save. Means-testing accelerates decumulation, with average drawdown rates 3% higher for pensioners subject to the income test relative to full pensioners and 9% higher for those subject to the asset test relative to full pensioners. Loss of a partner is linked to large falls in assets. The theoretical, empirical, and practical implications of these findings are discussed.

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Jefferson, T. "Two studies of women's retirement incomes in Australia: assessing some outcomes of pluralism in economic research." Cambridge Journal of Economics 31, no. 3 (January 20, 2007): 363–78. http://dx.doi.org/10.1093/cje/bel034.

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Black, Celeste M. "The Future of Work: The Gig Economy and Pressures on the Tax System." Canadian Tax Journal/Revue fiscale canadienne 68, no. 1 (April 1, 2020): 69–97. http://dx.doi.org/10.32721/ctj.2020.68.1.sym.black.

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In a number of common-law jurisdictions, gig workers (that is, workers who provide services through the use of web-based digital platforms) have recently sought to claim labour protections reserved for employees, such as the minimum wage, sick leave, and protection from unfair dismissal. These cases often involve the application of the multifactorial common-law test of employment to this new context, and the outcomes turn on the specifics of each case. In addition, classification as an employee has ramifications for a variety of tax matters. In this paper, the author considers whether the tax rules currently in place to capture non-standard employment arrangements have sufficient flexibility to capture gig workers. The focus of the analysis is Australian taxes (in particular, income tax, compulsory retirement savings contributions, and payroll tax), but reference is also made to similar issues under the laws of Canada. The author submits that, with respect to Australian income tax, gig work does not present a substantial risk to the tax base as a legal matter; however, a risk to the national revenue base comes from the compliance gap that is exposed when workers are no longer covered by employers' withholding mechanisms but are not picked up by tax administration regimes designed with larger businesses in mind. The author suggests that reliance on the registration of small businesses through the Australian business number, coupled with a new mandatory reporting regime for gig work platforms, would go a long way toward filling the transparency gap, and that doing so would both foster the voluntary compliance of gig workers and provide revenue authorities with data that could be used to detect non-compliance. A real risk exists that many gig workers will be outside the scope of the retirement contributions scheme and payroll tax and that the government, in consequence, will need to consider whether it is appropriate policy to change the law to include these on-demand workers.

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Schofield, Deborah J., Rupendra N. Shrestha, Richard Percival, Simon J. Kelly, Megan E. Passey, and Emily J. Callander. "Quantifying the effect of early retirement on the wealth of individuals with depression or other mental illness." British Journal of Psychiatry 198, no. 2 (February 2011): 123–28. http://dx.doi.org/10.1192/bjp.bp.110.081679.

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BackgroundIn addition to the health burden caused by mental illnesses, these conditions contribute to economic disadvantage because of their impact on labour force participation.AimsTo quantify the cost of lost savings and wealth to Australians aged 45–64 who retire from the labour force early because of depression or other mental illness.MethodCross-sectional analysis of the base population of Health&WealthMOD, a microsimulation model built on data from the Australian Bureau of Statistics' Survey of Disability, Ageing and Carers and STINMOD, an income and savings microsimulation model.ResultsPeople who are not part of the labour force because of depression or other mental illness have 78% (95% CI 92.2–37.1) and 93% (95% CI 98.4–70.5) less wealth accumulated respectively, compared with people of the same age, gender and education who are in the labour force with no chronic health condition. People who are out of the labour force as a result of depression or other mental illness are also more likely to have the wealth that they do have in cash assets, rather than higher-growth assets such as superannuation, home equity and other financial investments.ConclusionsThis lower accumulated wealth is likely to result in lower living standards for these individuals in the future. This will compound the impact of their condition on their health and quality of life, and put a large financial burden on the state as a result of the need to provide financial assistance for these individuals.

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Bui, Yen Hoang, Delpachitra Sarath, and Abdullahi D. Ahmed. "Efficiency of Australian superannuation funds: a comparative assessment." Journal of Economic Studies 43, no. 6 (November 14, 2016): 1022–38. http://dx.doi.org/10.1108/jes-05-2015-0088.

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Purpose The purpose of this paper is to measure efficiency of superannuation funds using data envelopment analysis (DEA), using data related to financial performance of superannuation funds. The sample comprises 183 superannuation funds covering approximately 79 per cent of the 231 largest Australian Prudential Regulation Authority (APRA)-regulated funds in 2012. The research covers a period of seven years from 2005 to 2012. The results indicate that most Australian superannuation funds are inefficient relative to the benchmark efficiency frontier based on efficient funds. The findings emphasise the importance of improving the efficiency of Australian superannuation funds by reducing overall fund expenses to narrow the gap in performance between efficient and inefficient funds. Design/methodology/approach This study aims to contribute to policy, theory and practice in several dimensions. Member protection and the efficiency of the superannuation system are topical issues (Donald, 2009). Despite its importance from a regulatory point of view, efficiency has only been discussed in relation to operational issues such as managing agency relationships, fees and charges, investment return or economies of scale. The relative efficiency of the Australian superannuation system from an economic productivity perspective has rarely been examined, except for a study by Njie (2006), where the Malmquist productivity DEA technique was used to measure the efficiency of Australia’s retirement income system. Findings Most inefficient funds had very low efficiency scores and were fell into the lower quintiles such as Quintiles 4 (scored 0.200-0.399) and 5 (scored 0.001-0.199). Consequently, input reduction targets were significantly higher for these two quintiles. Similarly, input reduction targets were high under the period DEA estimates. In order to be comparatively efficient, Quintile 4 funds were required to reduce total expenses by 75 per cent (−0.754) and volatility of return by 80 per cent (−0.801). Similarly, Quintile 5 funds needed to reduce total expenses by, on average, 83 per cent (−0.824) and volatility of return by 89 per cent (−0.894). Research limitations/implications As in other empirical research, this study also depended heavily on the data collected from the secondary sources such as APRA database and other financial reports. The issues of measurement errors in data sources such as APRA database are well documented (see, e.g. Cummins, 2012). This issue needs the attention of future research on the efficiency of superannuation funds. Practical implications The findings on individual year DEA estimates indicate that most funds were inefficient due to high expenses. Therefore, mandatory disclosure of fees and charges in a comparable manner may be necessary to justify fee payments and to address transparency and accountability issues, which are critical issues identified by the Cooper Review and the academic literature (Australian Government, 2014; Cooper et al., 2010; Gallery and Gallery, 2006). Social implications The issue of Australian superannuation funds concentrating the majority of fund assets in highly volatile investment vehicles such as the share markets has been in the spotlight in the aftermath of the global financial crisis. There have been proposals to better diversify superannuation assets in other asset classes (Cooper et al., 2010). Originality/value This study contributes to the current literature on superannuation funds by investigating efficiency. As efficiency studies using DEA have not been conducted on the Australian superannuation industry, this study also contributes to the academic literature on DEA and its extensive applications to various economic sectors. Efficiency scores using DEA, ranking, trends and shifts in the efficiency frontiers could be obtained for Australian superannuation funds on an on-going or annual basis.

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Vu, Jo (Chau), and James Doughney. "Women and Superannuation: Work Until You Drop?" Journal of Business Systems, Governance and Ethics 4, no. 1 (April 1, 2009). http://dx.doi.org/10.15209/jbsge.v4i1.153.

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Superannuation is becoming an increasingly important source of retirement income. However, women in Australia face a significant barrier in accumulating superannuation entitlements because of their positions in the paid and unpaid workforce. When in paid work, women occupy lower positions, have more career breaks due to care responsibilities and have more part-time and casual employment. Many women, of course, do not work outside the home, and a smaller proportion of women engage in paid employment than do men. Consequently women have lower incomes, less wealth and less generous retirement benefits. Our analysis of the Survey of Employment Arrangements and Superannuation and other Australian Bureau of Statistics data, together with data published by the Australian Prudential Regulatory Authority, reveals that dramatic policy initiatives will be needed to improve women’s access to retirement resources. Such policies do not apply only to superannuation but must address women’s positions in the paid workforce and their care responsibilities.

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Bateman, Hazel, and John Piggott. "Civil Services and Military Retirement Income Provision in Australia." SSRN Electronic Journal, 2011. http://dx.doi.org/10.2139/ssrn.1899392.

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Ryan, Angela. "Retirement Income Policy in New Zealand: Lessons for Australia." Agenda - A Journal of Policy Analysis and Reform 6, no. 1 (1999). http://dx.doi.org/10.22459/ag.06.01.1999.03.

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"093064 (E25) Alternative retirement income arrangements and lifetime income inequality: Lessons from Australia." Insurance: Mathematics and Economics 20, no. 3 (October 1997): 270–71. http://dx.doi.org/10.1016/s0167-6687(97)89218-9.

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Ong, Rachel, Gavin A. Wood, and Melek Cigdem. "Housing wealth, mortgages and Australians’ labour force participation in later life." Urban Studies, July 24, 2021, 004209802110265. http://dx.doi.org/10.1177/00420980211026578.

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In the life cycle model of consumption and saving, homeownership is an important vehicle for horizontal redistribution. Households accumulate wealth in owner-occupied housing during working lives before benefiting from imputed rent streams in retirement. But in some countries housing wealth’s welfare role has broadened as owners increasingly use flexible mortgages to smooth consumption during working lives. One consequence is higher outstanding mortgages later in life, a burden exacerbated by high real house prices that compel home buyers to demand mortgages that are a growing multiple of their incomes. We investigate whether these developments are prompting longer working lives, an idea that is especially relevant in countries offering relatively low government pensions. Australia is one such country. We use the 2001–2017 panels of the Household, Income and Labour Dynamics in Australia Survey to estimate hazard models of exits from the Australian labour force as workers approach pensionable age. We find that those with high outstanding mortgage debts are more likely to postpone retirement, as are those with relatively low amounts of private pension wealth. These results are stronger in urban housing markets, and especially among males.

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"Book Reviews." Journal of Economic Literature 48, no. 4 (December 1, 2010): 1038–39. http://dx.doi.org/10.1257/jel.48.4.1028.r6.

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James J. Choi of Yale University reviews “Automatic: Changing the Way America Saves” by William G. Gale, J. Mark Iwry, David C. John, Lina Walker,. The EconLit Abstract of the reviewed work begins “Nine papers explore methods of making the U.S. system of 401(k)-type plans and Individual Retirement Accounts more effective. Papers discuss retirement saving for middle- and lower-income households--the Pension Protection Act of 2006 and the unfinished agenda (William G. Gale, J. Mark Iwry, and Spencer Walters); the automatic 401(k)--revenue and distributional estimates (Christopher Geissler and Benjamin H. Harris); pursuing universal retirement security through automatic IRAs (Iwry and David C. John); national retirement savings systems in Australia, Chile, New Zealand, and the United Kingdom--lessons for the United States (John and Ruth Levine); increasing annuitization in 401(k) plans with automatic trial income (Gale, Iwry, John, and Lina Walker); automatic annuitization--new behavioral strategies for expanding lifetime income in 401(k)s (Iwry and John A. Turner); retirement security for Latinos--bolstering coverage, savings, and adequacy (Peter R. Orszag and Eric Rodriguez); retirement security for women--progress to date and policies for tomorrow (Leslie E. Papke, Walker, and Michael Dworsky); and strategies to increase the retirement savings of African American households (Ngina Chiteji and Walker). Gale is Arjay and Frances Miller Chair in Federal Economic Policy at the Brookings Institution and Director of the Retirement Security Project. Iwry is Senior Adviser to the Secretary and Deputy Assistant Secretary for… Index.”

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Njie, Matarr. "The Efficiency of the Retirement Income System in Australia During Financial Reforms." SSRN Electronic Journal, 2006. http://dx.doi.org/10.2139/ssrn.1065621.

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Journal articles on the topic 'Retirement income – Australia'

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