The Australian retirement income system: structure, effects and future

Martin, Bill and Xiang, Ning (2015) The Australian retirement income system: structure, effects and future. Work, Aging and Retirement, 1 2: 133-143. doi:10.1093/workar/wav003

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Author Martin, Bill
Xiang, Ning
Title The Australian retirement income system: structure, effects and future
Journal name Work, Aging and Retirement   Check publisher's open access policy
ISSN 2054-4642
2054-4650
Publication date 2015-03-11
Sub-type Critical review of research, literature review, critical commentary
DOI 10.1093/workar/wav003
Open Access Status Not Open Access
Volume 1
Issue 2
Start page 133
End page 143
Total pages 11
Place of publication Oxford, United Kingdom
Publisher Oxford University Press
Abstract Australia’s retirement income institutions are under scrutiny in response to population ageing and economic uncertainties, like those of many other advanced industrial societies. This article provides an overview of the current system of retirement income institutions in Australia. It places them in the context of Australia’s distinctive welfare state and population ageing patterns, along with retirement patterns. The article describes Australia’s “four pillar” system, consisting of a means tested, noncontributory age pension, compulsory private superannuation, voluntary private superannuation, and home ownership. This system largely reinforces inequalities generated during Australian retirees’ lifetime employment, while further exaggerating the differences between home owners and others. The article outlines the main political–economic risks generated in the system, and ends by summarizing how the system’s main features are likely to frame future developments.
Q-Index Code C1
Q-Index Status Provisional Code
Institutional Status UQ

Document type: Journal Article
Sub-type: Critical review of research, literature review, critical commentary
Collections: Institute for Social Science Research - Publications
Official 2016 Collection
 
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Citation counts: TR Web of Science Citation Count  Cited 2 times in Thomson Reuters Web of Science Article | Citations
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Created: Thu, 03 Mar 2016, 00:43:17 EST by Dr Ning Xiang on behalf of Institute for Social Science Research