Additional information is available for the following registered author(s):

• Hazel J Bateman
• John Piggott

As most other OECD Member countries had already done, Australia has, since 1991, supplemented an existing flat-rate universal (but means-tested) residence-based old-age pension by a compulsory earnings related second tier for employees known as the “Superannuation Guarantee”. However, it was the first Member country in which the favoured format of participation in the second tier is in the form of pure “money purchase” schemes in which benefits are determined solely by the amount which accumulates in individual accounts. Benefits are predominately paid as lump-sums on retirement, although tax arrangements are being changed to encourage beneficiaries to purchase annuities.

This report, compiled by two Australian experts, describes this system and its relation to pre-existing tax-advantaged voluntary provision, which only covered one-third of employees but remains predominant in terms of assets accumulated and benefits payable.

The report discusses the sources of retirement ...

Comme la plupart des autres pays Membres de l’OCDE l’avaient fait avant elle, l’Australie a, depuis 1991, complété son régime de retraite universel à taux uniforme (mais lié à un niveau de ressources), par un second pilier d’épargne retraite obligatoire proportionnelle aux gains pour les salariés, appelé système de garantie de retraite. Toutefois, c’est le seul pays à avoir privilégié, pour le deuxième pilier d’épargne, les régimes à cotisations définies dans lesquels les prestations sont uniquement fonction des sommes accumulées sur les comptes des bénéficiaires. Les prestations sont la plupart du temps servies sous la forme d’un capital versé intégralement au moment du départ à la retraite, mais une réforme des dispositions fiscales visant à encourager les bénéficiaires à opter pour le paiement d’une rente est en préparation.

Ce rapport, rédigé par deux experts australiens, décrit ce système de garantie de retraite et ses liens avec le régime volontaire préexistant auquel étaient ...

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Paper provided by OECD Directorate for Employment, Labour and Social Affairs in its series OECD Labour Market and Social Policy Occasional Papers with number 23.

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Date of creation: 1997
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Handle: RePEc:oec:elsaaa:23-en

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1. Eduardo Siandra, 1998. "Sistemas de pensiones, sus reformas y los mercados de capitales," Documentos de Trabajo (working papers) 0299, Department of Economics - dECON. [Downloadable!]
2. Malcolm Edey & John Simon, 1996. "Australia's Retirement Income System: Implications for Saving and Capital Markets," RBA Research Discussion Papers rdp9603, Reserve Bank of Australia. [Downloadable!]
   Other versions:
   • Malcolm Edey & John Simon, 1996. "Australia's Retirement Income System: Implications for Saving and Capital Markets," NBER Working Papers 5799, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
3. Garry Barrett & Yi-Ping Tseng, 2007. "Retirement Saving in Australia," Social and Economic Dimensions of an Aging Population Research Papers 177, McMaster University. [Downloadable!]
4. Jocelyn Horne, 2003. "Report Of Senate Select Committee On Superannuation And Standards Of Living In Retirement: Analysis And Review," Research Papers 0304, Macquarie University, Department of Economics. [Downloadable!]
5. Olivia S. Mitchell & John Piggott, . "Developments in Retirement Provision: Global Trends and Lessons from Australia and the US," Pension Research Council Working Papers 2000-2, Wharton School Pension Research Council, University of Pennsylvania. [Downloadable!]
   Other versions:
   • Olivia S. Mitchell & John Piggott, 2000. "Developments in Retirement Provision: Global Trends and Lessons from Australia and the US," Center for Financial Institutions Working Papers 00-07, Wharton School Center for Financial Institutions, University of Pennsylvania. [Downloadable!]

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