This paper presents new evidence from a national survey of non-retired individuals with superannuation accounts between the ages of 25 and 65. Fielded in June of 2012, the survey responses suggest that Australians often are ill informed about many important features of the superannuation system....

We study the financial competence of Australian retirement savers using self-assessed and quantified measures. Responses to numeracy and basic and sophisticated financial literacy questions show large variation and compare poorly with international surveys. We graph the relationships between...

We study the financial competence of Australian retirement savers using self-assessed and quantified measures. Responses to numeracy and basic and sophisticated financial literacy questions show large variation and compare poorly with international surveys. We graph the relationships between...

We develop and simulate a stochastic lifecycle model to investigate optimal annuity purchases at retirement. Retirees can invest in risky assets, purchase fairly priced immediate or deferred lifetime annuities, and are eligible for a targeted safety net pension. We match baseline parameters to...