Alternative Retirement Income Arrangements and Lifetime Income Inequality: Lessons From Australia
AbstractThis paper examines the implications for lifetime income equality of alternative retirement income arrangements, using the Australian scheme as a benchmark. In Australia, the pay-as-you go financed age pension is means-tested and thereby provides a contrast with those countries where part or all of a basic pension is paid to all aged persons. Many governments are considering an increase in the level of means-testing. The results show that the introduction of a universal pension coupled with significant changes and simplifications to the structure of taxation and superannuation have little effect on the redistributive impact of the tax structure in a life cycle framework. The presence of means-testing appears to have no significant effect on life-time inequality. The results suggest that it is possible to eliminate complexities from the system providing retirement benefits without having any deleterious effect on equity. Copyright Kluwer Academic Publishers 1999
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Springer in its journal International Tax and Public Finance.
Volume (Year): 6 (1999)
Issue (Month): 1 (February)
Contact details of provider:
Web page: http://www.springerlink.com/link.asp?id=102915
retirement; pensions; means-testing; inequality;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Powers, Elizabeth T., 1998. "Does means-testing welfare discourage saving? evidence from a change in AFDC policy in the United States," Journal of Public Economics, Elsevier, vol. 68(1), pages 33-53, April.
- M. E. Atkinson & John Creedy & D. M. Knox, 1995. "Planning Retirement Income in Australia: Routes through the Maze," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 28(4), pages 15-28.
- Atkinson, M E & Creedy, John, 1996.
"Modelling Optimal Retirement Decisions in Australia,"
Australian Economic Papers,
Wiley Blackwell, vol. 35(66), pages 39-59, June.
- Atkinson, M.E. & Creedy, J., 1995. "Modelling Optimal Retirement Decisions in Australia," Department of Economics - Working Papers Series 464, The University of Melbourne.
- Aziz, Omar & Gemmell, Norman & Laws, Athene, 2013. "The Distribution of Income and Fiscal Incidence by Age and Gender: Some Evidence from New Zealand," Working Paper Series 2852, Victoria University of Wellington, Chair in Public Finance.
- Deborah A. Cobb-Clark & Vincent Hildebrand, 2009.
"Portfolio Allocation in the Face of a Means-Tested Public Pension,"
Social and Economic Dimensions of an Aging Population Research Papers
260, McMaster University.
- Deborah A. Cobb‐Clark & Vincent A. Hildebrand, 2011. "Portfolio Allocation In The Face Of A Means‐Tested Public Pension," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 57(3), pages 536-560, 09.
- Cobb-Clark, Deborah A. & Hildebrand, Vincent A., 2009. "Portfolio Allocation in the Face of a Means-Tested Public Pension," IZA Discussion Papers 4481, Institute for the Study of Labor (IZA).
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.