Australian Retirement System: Significance of Pillars 3 and 4 in Achieving an Adequate Standard of Living in Retirement | Zendy

Evans John R. | Zendy; Razeed Abdul | Zendy

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Australian Retirement System: Significance of Pillars 3 and 4 in Achieving an Adequate Standard of Living in Retirement

Author(s) -

Evans John R.,

Razeed Abdul

Publication year - 2019

Publication title -

economic papers: a journal of applied economics and policy

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.245

H-Index - 19

eISSN - 1759-3441

pISSN - 0812-0439

DOI - 10.1111/1759-3441.12261

Subject(s) - actuarial science , business , gerontology , medicine

Most research relating to the adequacy of the Australian retirement system has concentrated on Pillars 1 and 2. This paper indicates that there is a high probability that Pillars 3 and 4 will be needed to ensure an adequate standard of living in retirement, and in most scenarios, the contribution to retirement adequacy from Pillars 3 and 4 is very significant. We include an international comparison of equivalent Pillars 1 and 2 costs and conclude this analysis supports our results.

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