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Australia's mandatory retirement saving policy : a view from the new millennium


  • Bateman, Hazel
  • Piggott, John


Formal retirement income provision in Australia, can be traced back to occupational schemes first offered by banks, and state governments in the nineteenth century. However, the year 1909 marks the beginning of a national retirement income policy, with the introduction of means-tested age pension. Since then, retirement income provision has evolved into a multi-pillar arrangement comprising the Age Pension, occupational annuity, and other long term saving through property, shares, and managed funds. The 1990s saw the introduction of private mandatory retirement saving in the form of the"Superannuation Guarantee". With this introduction, Australia joined a growing group of countries which center their retirement income policy, on private mandatory retirement saving. This paper provides a succinct description of the current system along with an analysis of its strengths, and areas where improvement is still needed.

Suggested Citation

  • Bateman, Hazel & Piggott, John, 2001. "Australia's mandatory retirement saving policy : a view from the new millennium," Social Protection and Labor Policy and Technical Notes 23160, The World Bank.
  • Handle: RePEc:wbk:hdnspu:23160

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    References listed on IDEAS

    1. Eileen Trzcinski & William T. Alpert, 1994. "Pregnancy and Parental Leave Benefits in the United States and Canada: Judicial Decisions and Legislation," Journal of Human Resources, University of Wisconsin Press, vol. 29(2), pages 535-554.
    2. William E. Even & David A. Macpherson, 1994. "Gender Differences in Pensions," Journal of Human Resources, University of Wisconsin Press, vol. 29(2), pages 555-587.
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    Cited by:

    1. Garry F. Barrett & Yi-Ping Tseng, 2008. "Retirement Saving in Australia," Canadian Public Policy, University of Toronto Press, vol. 34(s1), pages 177-193, November.
    2. Gerrans, Paul & Clark-Murphy, Marilyn, 2004. "Gender differences in retirement savings decisions," Journal of Pension Economics and Finance, Cambridge University Press, vol. 3(02), pages 145-164, July.
    3. Whitehouse, Edward, 2001. "Pension systems in 15 countries compared: the value of entitlements," MPRA Paper 14751, University Library of Munich, Germany.
    4. Disney, Richard & Whitehouse, Edward, 2001. "Cross-country comparisons of pensioners’ incomes," MPRA Paper 16345, University Library of Munich, Germany.


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