Australia Archives - Page 5 of 22 - Pension Policy International

13OctOctober 13, 2022

Australia must urgently fix pensions gender gap

Australia must urgently address the pensions gender gap in the upcoming federal budget, warns a body representing the nation’s A$3.3 trillion (US$2.1 trillion or RM9.84 trillion) of retirement savings. The government needs to make swift reforms to an industry that currently leaves retired Australian women with typically 23.1% less in their pension accounts than men, according to the Association of Superannuation Funds of Australia (ASFA). Pension payments should be made to workers on paid parental leave following the birth or adoption...

October 13, 2022

NewsAustralia, Gender Gap, Income

19SepSeptember 19, 2022

Australia. Millions to get cash boost

Millions of Australians are in for a welcome boost on Tuesday, with Centrelink payments set to rise in response to growing inflation. Centrelink payments will increase on Tuesday for millions of Australians as an indexation increase to match cost of living pressure kicks in. The payment increase is set to be the biggest in 30 years and will benefit aged pensioners, disability support pensioners, carers and those on JobSeeker and Rent Assistance among others. Single parents will receive an extra $35.20 per...

September 19, 2022

NewsAustralia, Public Pensions

01SepSeptember 1, 2022

Australia. Pensioners re-entering workforce would make a ‘tangible difference’

Shadow Treasurer Angus Taylor has discussed various solutions to Australia’s labour shortage as the Jobs and Skills summit kicks off in Canberra today. “We put a very practical suggestion, a tangible outcome that we get pensioners and veterans – give them an incentive to do more work without losing their pensions,” Mr Taylor told Sky News Australia. “There is enough pensioners and veterans out there who want to do extra work that it would make a tangible difference. “We have heard crickets...

September 1, 2022

NewsAging, Australia, Labor Market

23AugAugust 23, 2022

Australia’s Pensions Suffer Worst Year Since Financial Crisis

Australia’s pensions posted their worst annual performance since the global financial crisis as markets were roiled by central banks’ aggressive rate hikes and the war in Ukraine. Read also Should Pension Funds ‘Invest’ in Crypto? Guardians of the world’s fifth largest pension pot shed A$92.8 billion ($64 billion) on investments in the fiscal year through June 30, the biggest loss for the period since 2009, according to Australian Prudential Regulation Authority data released Tuesday. That saw the pool of savings fall...

August 23, 2022

News2022, Australia, Investment, Political economy

16AugAugust 16, 2022

Tough Times Ahead Warns CEO of Australia’s Largest Pension Fund

Consumers and businesses will continue to struggle as global policy makers battle to get inflation under control, the head of Australia’s largest pension fund told a media forum. “Our view is that there are some pretty tough times ahead,” Paul Schroder, chief executive officer of the A$260 billion ($182 billion) AustralianSuper Pty, said on Tuesday. “We think we are in a continually tight environment. The question now is what is the rate of that tightening and is there a pivot around...

August 16, 2022

News2022, Australia, Pension Management, Political economy

08AugAugust 8, 2022

Australia is a nation of ‘accidental investors’. Is it time for more scrutiny of the superannuation system?

Margaret Thatcher sought to convert Britain from a nation of shopkeepers to one of shareholders. Compulsory superannuation and low rates – until recently – on traditional bank deposits have converted most Australians into accidental investors. Beginning in the 1980s, retirement arrangements changed from defined benefits (an inflation-indexed pension based on your final salary, paid by employers or government in return for regular contributions) to defined contribution schemes (at retirement you receive your and the employer’s payments, plus investment returns). Today, Australian...

August 8, 2022

News2022, Australia, Investment

13JulJuly 13, 2022

Australia’s biggest pension fund braces for prolonged slowdown

Australia’s largest pension fund sees the global economy struggling for about two more years as businesses and households adjust to tighter monetary and fiscal policies. Investors have been conditioned to think that market pullbacks are a short-term phenomenon but the current crisis is different, according to Mark Delaney, chief investment officer of the A$260bn ($175bn) pension giant AustralianSuper Pty. “It takes 12 months to two years for tighter monetary policy to impact on the economy – and monetary policy is just...

July 13, 2022

News2022, Australia, Pension Management

17JunJune 17, 2022

Aussie aged pensioners call for opportunity to work more hours

A growing number of Aussie seniors still working after retirement age are calling for the opportunity to work more hours without being penalised for it. A group of pensioners have told A Current Affair they're willing to help fill Australia's labour void, but the problem is that if they work too many hours, it will affect their pension. "If I work an hour over my 30 hours a fortnight, it changes my pension quite a bit," dementia specialist and senior Betty...

June 17, 2022

News2022, Aging, Australia, Labor Market, Retirement Age

16MayMay 16, 2022

Australia. Pensioners hit hard by living cost increases

Annual increases in living costs have continued to rise, with age pensioner households experiencing a annual spike of about five per cent in living costs, according to new Australian Bureau of Statistics [ABS] data. According to the ABS data, the annual increase in living costs to the March 2022 quarter for employee households (households whose principal source of income is from wages and salaries) was 3.8 per cent. However, the annual rise in living costs for age pensioner households (households whose...

May 16, 2022

News2022, Australia, Income

11AprApril 11, 2022

Australia. Two pathways for super funds to address longevity risk

Addressing longevity risk in the Retirement Income Covenant (RIC) is a tougher nut to crack for superannuation funds than its mandate for funds to mitigate investment and inflation risk to retirement savings. Speaking to Money Management, Challenger’s general manager, institutional partnerships, Simon Brinsmead, said this was because it was the only risk that funds needed to balance that existed outside of the accumulation phase. “Why this is significant is because you've got around about 700 people retiring every day now, so...

April 11, 2022

News2022, Australia, Longevity, Risk

October 2022

Australia must urgently fix pensions gender gap

September 2022

Australia. Millions to get cash boost

Australia. Pensioners re-entering workforce would make a ‘tangible difference’

August 2022

Australia’s Pensions Suffer Worst Year Since Financial Crisis

Tough Times Ahead Warns CEO of Australia’s Largest Pension Fund

Australia is a nation of ‘accidental investors’. Is it time for more scrutiny of the superannuation system?

July 2022

Australia’s biggest pension fund braces for prolonged slowdown

June 2022

Aussie aged pensioners call for opportunity to work more hours

May 2022

Australia. Pensioners hit hard by living cost increases

April 2022

Australia. Two pathways for super funds to address longevity risk