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Long-term Fiscal Projections and the Australian Retirement Income System

Author

Listed:
  • John Piggott

    () (ARC Centre of Excellence in Population Ageing Research, Australian School of Business, University of New South Wales)

  • Rafal Chomik

    () (ARC Centre of Excellence in Population Ageing Research, Australian School of Business, University of New South Wales)

Abstract

Australia’s retirement income provision system, comprising the “three pillars” of a means-tested Age Pension, mandatory occupational Superannuation and other, voluntary long term savings, is at the heart of understanding the fiscal implications of ageing. While the Intergenerational Report, an account of long term fiscal sustainability, is celebrating its tenth birthday since the first edition was published, the Superannuation Guarantee (SG), first implemented in 1992, is about to turn a sprightly twenty. This paper considers the intergenerational reports as a prism for studying fiscal, demographic, and policy developments in the Australian retirement income system over the last decade and into the future.

Suggested Citation

  • John Piggott & Rafal Chomik, 2012. "Long-term Fiscal Projections and the Australian Retirement Income System," Working Papers 201214, ARC Centre of Excellence in Population Ageing Research (CEPAR), Australian School of Business, University of New South Wales.
  • Handle: RePEc:asb:wpaper:201214
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    File URL: http://cepar.edu.au/media/81951/long-term_fiscal_projections_for_web.pdf
    File Function: First version, 2012
    Download Restriction: no

    More about this item

    Keywords

    Intergenerational Report; Retirement; Pensions; Superannuation; Population Ageing;

    JEL classification:

    • H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • J14 - Labor and Demographic Economics - - Demographic Economics - - - Economics of the Elderly; Economics of the Handicapped; Non-Labor Market Discrimination
    • J26 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Retirement; Retirement Policies

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