With people on average living longer a substantial part of the pension requirements of the next cohort of retirees needs to be met from savings accumulated during working years. The effective management of these savings is crucial. This book considers the Australian experience, highlighting the extent to which the financial services industry has extracted rents from Australian pensioners, and why this occurred. Based on empirical research the book will demonstrate the numerous problems which have emerged in Australia which include inefficiency and industrial-scale rent extraction. The book…mehr
With people on average living longer a substantial part of the pension requirements of the next cohort of retirees needs to be met from savings accumulated during working years. The effective management of these savings is crucial. This book considers the Australian experience, highlighting the extent to which the financial services industry has extracted rents from Australian pensioners, and why this occurred. Based on empirical research the book will demonstrate the numerous problems which have emerged in Australia which include inefficiency and industrial-scale rent extraction. The book goes on to draws lessons from Australia for other developing economies enacting pension reform.
Dr. Nicholas Morris is an adjunct professor in the law faculties of UNSW, Sydney, and Latrobe, Melbourne; a visiting fellow at the Martin School, Oxford; and a guest professor at the China Executive Leadership Academy, Pudong, China. He has been Deputy Director of the UK Institute for Fiscal Studies; Chief Executive and Chairman of various economic consultancies including London Economics; a visiting fellow at Balliol and St Anthony's Colleges in Oxford, and at Melbourne University; and has led numerous projects in developing countries.
Inhaltsangabe
Chapter 1: Introduction Chapter 2: System Design and Problems Chapter 3: The Evolution of the Australian Pension System Chapter 4: Empirical evidence on costs and performance Chapter 5: Lessons from Australia Chapter 6: What can be done now Chapter 7: Conclusions
Chapter 1: Introduction Chapter 2: System Design and Problems Chapter 3: The Evolution of the Australian Pension System Chapter 4: Empirical evidence on costs and performance Chapter 5: Lessons from Australia Chapter 6: What can be done now Chapter 7: Conclusions
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