Tag: Australian Retirement system
In early December, President Trump discussed developing a national retirement savings system like Australia’s superannuation program. Australia certainly has an enviable retirement system. In fact, the latest Mercer CFA Institute Global Pension Index awards the Australian system a B+, while the U.S. system gets only a C+…
Introduction Australia’s new retirement income system combines two components. The first is the Age Pension — a means-tested allowance, funded out of general government revenues, which was put in place as a welfare program in 1908. After its expansion in the 1970s, the Age Pension has become more of a universal entitlement with a claw…
