Australia has a three-pillar based retirement system consisting of the Superannuation Guarantee Levy (SGL), Private Savings and the Age Pension. The purpose of this paper is to assess the impact on the retirement standard of living of Australian households by considering all of the components of...

The determination of retirement adequacy is of interest to governments in setting policies related to government transfers, but different measures can result in different outcomes. This paper uses a broad definition of the components that contribute to retirement adequacy and shows that in...

The ageing of Australia's population and the maturing of the Australian Superannuation Guarantee Levy system means that there will be greater amounts of funds available to retirees to fund their retirement income needs. A guaranteed lifetime annuity is often cited as the ideal solution for the...

Whilst the concept of an asset-based welfare system developed formally in the 1950s there is evidence in Australia that the philosophy developed well before then and has continued through advantages for those able to acquire a home over those that cannot in the retirement system. The net cost to...

Most research relating to the adequacy of the Australian retirement system has concentrated on Pillars 1 and 2. This paper indicates that there is a high probability that Pillars 3 and 4 will be needed to ensure an adequate standard of living in retirement, and in most scenarios, the...

The Australian Superannuation Guarantee Levy system (SGL) and the Age Pension are linked through the income and asset test of the Age Pension system. Variations in likely demands for full or partial Age Pensions will occur as variations occur in the amount of retirement benefits that members of...