Australia Archives - Page 4 of 22 - Pension Policy International

19MayMay 19, 2023

Can the Australian Judicial System Meet the Structural Challenges of Future Population Change?

By Brian Opeskin This article examines the impact of population change on the evolution of the Australian judicial system. Through four case studies, it argues that demography is an important but overlooked lens through which to understand pressures on the judicial system over coming decades. The case studies examine the impact of increasing life expectancy on judicial tenure; of population ageing on judicial pensions; of international migration on judicial diversity; and of population redistribution on the spatial delivery of justice...

May 19, 2023

Aging, Articles2023, Australia, Labor Market, Longevity

08MayMay 8, 2023

Australia’s big pension funds boost fossil fuel investments, activist group says

Australia's 30 biggest pension funds increased their investments in key coal, oil and gas producers by 50% in 2022 despite the funds' long term commitments to net zero carbon emissions, environmental activist group Market Forces said. Superannuation or retirement funds raised their investment to more than A$34 billion ($23 billion) in companies most responsible for expanding fossil fuels, Market Forces said. "Super funds are making a mockery of their own commitments to net zero by buying up wholesale in companies expanding...

May 8, 2023

NewsAustralia, Climate crisis

24MarMarch 24, 2023

COVID-19 Private Pension Withdrawals and Unemployment Tenures

By Tristram Sainsbury, Robert V. Breunig & Timothy Watson This is the first study to evaluate the effects of early pension withdrawal policies on tenures on unemployment payments in the COVID-19 context. We use a novel set of linked whole-of-population administrative records to examine more than half-a-million Australians who found themselves newly on an unemployment payment in the initial months of the COVID-19 pandemic. We estimate that receiving a lump sum of up to A$10,000 from superannuation accounts at the...

March 24, 2023

Articles, Labor Market2022, Australia, COVID-19, Private Pensions, US, Withdrawals

01MarMarch 1, 2023

Australia’s regulator sues Mercer pension fund in first greenwashing case

Australia's corporate regulator launched legal action against pension fund Mercer Superannuation on Tuesday, accusing it of misleading members about the sustainability of some of its investment options. The Australian Securities & Investments Commission's (ASIC) said this was its first court action alleging "greenwashing", or exaggerated claims of environment-friendly investment and products, which has garnered increased attention as interest rises in sustainable and ethical investment options. ASIC said last year it was stepping up oversight of climate-related reporting and was investigating several...

March 1, 2023

NewsAustralia, ESG, Regulation

23FebFebruary 23, 2023

Australia plans to limit early access to retirement funds, cut tax breaks

Australia's centre-left government said on Thursday it would push ahead with plans to change superannuation rules, including restricting early access to funds until retirement and limiting tax breaks for high-earners. The Labor government earlier this week launched a consultation on reforming superannuation - or retirement fund - saying it wanted the A$3.3 trillion ($2.3 trillion) pension system to become sustainable and equitable in the face of mounting pressure on the federal budget. "We are not trying to revolutionise the system, but...

February 23, 2023

NewsAustralia, Taxation, Withdrawals

21FebFebruary 21, 2023

Test case could land Indigenous Australians early age pension

A legal test case could result in Indigenous Australians accessing age pension payments three years early, as a Wakka Wakka elder argues he should qualify sooner because his life expectancy is lower. Dennis James Fisher’s legal team, led by Ron Merkel, KC, argue Indigenous men such as their client, who was born in 1957, do not have the same opportunity to retire and receive the same age-pension support as other Australians. Australian Bureau of Statistics figures show that in 2015–17, the...

February 21, 2023

NewsAustralia, Longevity, Retirement Age

14FebFebruary 14, 2023

US. Pension funds are sticking with bonds for the most part

Last year was rough for U.S. pension fund bond portfolios. With the Bloomberg U.S. Aggregate Bond index down 14.6% after a year of high volatility, investors had to look to other parts of their portfolios to bolster returns. For the defined benefit plans among the 200 largest plan sponsors in Pensions & Investments' survey, the evidence of that volatility is obvious in the data. A significant portion of the plans in the survey reported smaller bond portfolios as of Sept....

February 14, 2023

NewsAustralia, Investment, Pension Management

09JanJanuary 9, 2023

How world’s biggest funds are preparing for a cash crunch

In a year of disease, war and inflation, one event struck fear into the heads of Australia’s super funds more than any other. That was October’s UK pension crisis which, had it not been for the intervention of the Bank of England, would have rendered many pension funds insolvent. While most Australian super funds would say they think deeply about ensuring they are never caught without enough emergency cash, that episode brought home just how quickly a liquidity crisis can evolve. The...

January 9, 2023

NewsAustralia, Investment, Pension Management, UK

05DecDecember 5, 2022

Private Debt Funds Tap Australia’s $2.3 Trillion Pension Savings

After winning over some of the biggest retirement plans in the US, private credit managers have found new fertile ground for their investment pitch: Australia’s $2.3 trillion pension industry. Four of the top-10 pensions Down Under -- Australian Retirement Trust, HostPlus, UniSuper and Colonial First State -- are making significant increases to their private credit allocations, according to recent statements and interviews with Bloomberg News. AustralianSuper, the nation’s largest, is midway into a three-year push to triple its allocation. That’s music...

December 5, 2022

NewsAustralia, Investment, US

21OctOctober 21, 2022

Individual Investors’ Housing Income and Interest Rates Fluctuations

By Antonio Gargano & Marco Giacoletti Little is known about the participation of small individual landlords in the rental market, and about rental income earned by households. Using unique tax filings data from Australia, we show that 20% of middle and retirement age median-income individuals are landlords. This fraction has risen over the last 20 years, increasing by 80% for the retirement age group. We provide evidence linking this change to cuts in interest rates, which have led older individuals...

October 21, 2022

Adequacy, Articles2022, Australia, Income

May 2023

Can the Australian Judicial System Meet the Structural Challenges of Future Population Change?

Australia’s big pension funds boost fossil fuel investments, activist group says

March 2023

COVID-19 Private Pension Withdrawals and Unemployment Tenures

Australia’s regulator sues Mercer pension fund in first greenwashing case

February 2023

Australia plans to limit early access to retirement funds, cut tax breaks

Test case could land Indigenous Australians early age pension

US. Pension funds are sticking with bonds for the most part

January 2023

How world’s biggest funds are preparing for a cash crunch

December 2022

Private Debt Funds Tap Australia’s $2.3 Trillion Pension Savings

October 2022

Individual Investors’ Housing Income and Interest Rates Fluctuations