Centre for Policy on Ageing



Contemporary issues in the ongoing reform of the Australian retirement income system
Author(s)	David M Knox
Journal title	The Australian Economic Review, 2nd Quarter,, 1996
Pages	pp 199-210
Keywords	Pensions ; Social policy ; Australia.
Annotation	The development of a sound and sustainable retirement income system is currently an important social, political, and economic issue around the world as many countries face a range of pressures including an ageing population, low national saving levels, maturing social security programmes and changing employment patterns. As a result of these pressures, the World Bank has advocated a three-pillar system which is broadly reflected in the current Australian arrangements. However, further reform is planned in Australia, with a proposal to introduce compulsory minimum employee contributions of 3% of earnings, together with a matching income-tested government contribution. The proposal for government contributions is analysed in this article and an alternative approach is proposed. The important related issues of taxation of superannuation and the integration between superannuation and government-funded old age pension are also reviewed. (AKM).
Accession Number	CPA-980106214 A
Classmark	JJ: TM2: 7YA *
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