A Review Of Australia's Compulsory Superannuation Scheme After A Decade

Drew, Michael E. and Stanford, Jon D. (2003) A Review Of Australia's Compulsory Superannuation Scheme After A Decade. Discussion Paper No 322, School of Economics, University of Queensland.

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Author Drew, Michael E.
Stanford, Jon D.
Title A Review Of Australia's Compulsory Superannuation Scheme After A Decade
School, Department or Centre School of Economics
Institution University of Queensland
Report Number Discussion Paper No 322
Publication date 2003-03-01
Subject 350300 Banking, Finance and Investment
Abstract/Summary The Australian superannuation system places trustees in the key role of managing superannuation assets and we subject the role of trustee to close scrutiny while identifying the very substantial principal-and-agent problems that exist in the industry. We consider two policy issues: member choice of fund and portability of accumulated balances in the light of how they would improve the ability of individual members to maximise retirement benefits and the efficiency of the system. We argue that the award superannuation scheme which requires, by conditions in industrial awards, contributions of three per cent of wage or salary of an employee continues along side the SG scheme is due for review.
Keyword Superannuation
Retirement savings
Portability
Fund management

Document type: Department Technical Report
Collection: Discussion Papers (School of Economics)
 
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Created: Fri, 06 Feb 2004, 10:00:00 EST by Belinda Weaver (EA)