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Taxes, Retirement Transfers, and Annuities

Author

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  • Bateman, Hazel
  • Kingston, Geoffrey
  • Piggott, John

Abstract

In most countries, retirement benefits from pension saving must be taken as an annuity. By contrast, Australia allows benefits to be taken as a lump sum and instead has recently introduced various tax incentives to encourage annuity purchase. This paper investigates the effectiveness of these tax concessions and concludes that they do little to achieve this objective. This is because they are nullified by the provisions of the broader tax and social security framework within which Australian private pension policy is set. Copyright 1993 by The Economic Society of Australia.

Suggested Citation

  • Bateman, Hazel & Kingston, Geoffrey & Piggott, John, 1993. "Taxes, Retirement Transfers, and Annuities," The Economic Record, The Economic Society of Australia, vol. 69(206), pages 274-284, September.
  • Handle: RePEc:bla:ecorec:v:69:y:1993:i:206:p:274-84
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    Cited by:

    1. Eduardo Roca & Victor Wong, 2008. "An analysis of the sensitivity of Australian superannuation funds to market movements: a Markov regime switching approach," Applied Financial Economics, Taylor & Francis Journals, vol. 18(7), pages 583-597.
    2. 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.

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