Superannuation and Saving

摘要: The system of providing for retirement income in Australia has undergone marked changes over the past two decades, particularly 1980s when pension entitlements and superannuation legislation encouraged a sharp rise saving. However, there been no obvious pickup aggregate household saving, raising possibility that households may have offset increase by reducing other forms Our results suggest that, past, significant degree substitution between although offsets not complete. estimates are very precise, but they 35 years, about three-quarters saving consistent with recent overseas studies which find large through plans It is too early to tell whether new arrangements will generate increases number features likely be smaller than past. In particular rely heavily on compulsory rather voluntary as well expanding coverage among those wage salary earners who most liquidity constrained. For these reasons increased against earlier schemes.