New Lessons from Australia to Improve Pension Outcomes
The Australian Government commissioned the independent Financial System Inquiry or ‘Murray Review’ to provide recommendations to improve private pensions (superannuation), as well as financial system resilience, innovation and consumer protection....
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| Format: | Brief |
| Language: | English en_US |
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World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2016/04/26222074/new-lessons-australia-improve-pension-outcomes http://hdl.handle.net/10986/24286 |
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okr-10986-242862021-05-25T10:54:36Z New Lessons from Australia to Improve Pension Outcomes Price, William AUCTION NEW MARKET CAPITAL MARKETS REGULATORY FRAMEWORK BASIS POINTS INCOME FLOWS MARKET STRUCTURE URBANIZATION PEOPLE RETAIL FUNDS RETIREMENT FINANCING STOCK INCOME INTEREST INSTITUTIONAL INVESTORS RATE OF RETURN LONG-TERM FINANCE TRACK RECORD PENSION SYSTEMS SAVINGS ACCOUNTS LONG-TERM CAPITAL OPTION SUPERANNUATION SCHEME INFORMATION DEVELOPING COUNTRIES TAX COLLECTION DEVELOPING ECONOMIES CAPACITY BUILDING CLEARING HOUSE RETIREMENT SYSTEM FEE PRICE TAX PRICE CAPS PENSION SYSTEM PENSION REFORMS LONG-TERM INVESTMENT PAYMENTS SAVING PRIVATE PENSION PRICE COMPETITION PENSION INSURANCE MARKET RETAIL MASS MARKET DRIVERS JURISDICTIONS SAVINGS MARKET CONCENTRATION COMMERCE TRAINING LOW-INCOME COUNTRIES TRUSTEES FINANCES PRODUCTS OPTIONS TRANSFERS PAYMENT MARKETS RETURN SOCIAL PROTECTION BASIS POINT STANDARDS PRODUCT LABOR INVESTMENT STRATEGY FINANCIAL SYSTEM ASSET ACCUMULATION PENSION FUNDS FINANCE EFFICIENCY BANK POLICY EMERGING MARKETS AUCTIONS INVESTORS GOOD PENSION FUND ASSETS INFORMAL WORKERS CAPITAL TRANSPARENCY FINANCIAL STABILITY FUTURE FAMILY VALUE PENSIONS BANK RETURNS DEMAND CONTRACT PRIVATE PENSIONS DEFAULT MARKET EMPLOYERS DEMAND FOR CAPITAL MANAGEMENT MARKET DISRUPTION GOVERNANCE INSURANCE INVESTMENT STRATEGIES INTERESTS EMPLOYER COST REDUCTIONS SECURITY ECONOMIES OF SCALE INVESTMENT RATES OF RETURN SHARE PENSION ASSETS PUBLIC FINANCES POVERTY GLOBAL STANDARD SUPPLY PURCHASING GLOBAL PENSION INNOVATION PROFIT BORROWING RATES OF RETURNS PRODUCTIVE INVESTMENT PENSION FUND FEES FAMILIES OUTREACH OUTCOMES PAYMENT SYSTEMS FUND ASSETS ACCOUNT MANAGEMENT PRICES FINANCIAL OUTREACH CONSUMER PROTECTION MARKET FORCES EMPLOYEES COMPETITION The Australian Government commissioned the independent Financial System Inquiry or ‘Murray Review’ to provide recommendations to improve private pensions (superannuation), as well as financial system resilience, innovation and consumer protection. This continues Australia’s proactive approach - regularly reviewing how to improve a system that already has good features. The recommendation for a clear (and legally binding) statement of what the retirement system is trying to achieve is a sensible move. It mirrors what is happening in a range of World Bank projects, to start with the long-run outcomes and then work backwards to find the best ways to achieve them, in terms of regulation, supervision, market structure and efficient infrastructure. This note reviews the key analysis and recommendations from the review of the private pension system in Australia known as the ‘Murray Review’. It provides a commentary on the implications for pension reforms using World Bank experience in a range of projects. 2016-05-17T20:35:22Z 2016-05-17T20:35:22Z 2016-01 Brief http://documents.worldbank.org/curated/en/2016/04/26222074/new-lessons-australia-improve-pension-outcomes http://hdl.handle.net/10986/24286 English en_US Finance in Focus; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Publications & Research Publications & Research :: Brief East Asia and Pacific Australia |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
AUCTION NEW MARKET CAPITAL MARKETS REGULATORY FRAMEWORK BASIS POINTS INCOME FLOWS MARKET STRUCTURE URBANIZATION PEOPLE RETAIL FUNDS RETIREMENT FINANCING STOCK INCOME INTEREST INSTITUTIONAL INVESTORS RATE OF RETURN LONG-TERM FINANCE TRACK RECORD PENSION SYSTEMS SAVINGS ACCOUNTS LONG-TERM CAPITAL OPTION SUPERANNUATION SCHEME INFORMATION DEVELOPING COUNTRIES TAX COLLECTION DEVELOPING ECONOMIES CAPACITY BUILDING CLEARING HOUSE RETIREMENT SYSTEM FEE PRICE TAX PRICE CAPS PENSION SYSTEM PENSION REFORMS LONG-TERM INVESTMENT PAYMENTS SAVING PRIVATE PENSION PRICE COMPETITION PENSION INSURANCE MARKET RETAIL MASS MARKET DRIVERS JURISDICTIONS SAVINGS MARKET CONCENTRATION COMMERCE TRAINING LOW-INCOME COUNTRIES TRUSTEES FINANCES PRODUCTS OPTIONS TRANSFERS PAYMENT MARKETS RETURN SOCIAL PROTECTION BASIS POINT STANDARDS PRODUCT LABOR INVESTMENT STRATEGY FINANCIAL SYSTEM ASSET ACCUMULATION PENSION FUNDS FINANCE EFFICIENCY BANK POLICY EMERGING MARKETS AUCTIONS INVESTORS GOOD PENSION FUND ASSETS INFORMAL WORKERS CAPITAL TRANSPARENCY FINANCIAL STABILITY FUTURE FAMILY VALUE PENSIONS BANK RETURNS DEMAND CONTRACT PRIVATE PENSIONS DEFAULT MARKET EMPLOYERS DEMAND FOR CAPITAL MANAGEMENT MARKET DISRUPTION GOVERNANCE INSURANCE INVESTMENT STRATEGIES INTERESTS EMPLOYER COST REDUCTIONS SECURITY ECONOMIES OF SCALE INVESTMENT RATES OF RETURN SHARE PENSION ASSETS PUBLIC FINANCES POVERTY GLOBAL STANDARD SUPPLY PURCHASING GLOBAL PENSION INNOVATION PROFIT BORROWING RATES OF RETURNS PRODUCTIVE INVESTMENT PENSION FUND FEES FAMILIES OUTREACH OUTCOMES PAYMENT SYSTEMS FUND ASSETS ACCOUNT MANAGEMENT PRICES FINANCIAL OUTREACH CONSUMER PROTECTION MARKET FORCES EMPLOYEES COMPETITION |
| spellingShingle |
AUCTION NEW MARKET CAPITAL MARKETS REGULATORY FRAMEWORK BASIS POINTS INCOME FLOWS MARKET STRUCTURE URBANIZATION PEOPLE RETAIL FUNDS RETIREMENT FINANCING STOCK INCOME INTEREST INSTITUTIONAL INVESTORS RATE OF RETURN LONG-TERM FINANCE TRACK RECORD PENSION SYSTEMS SAVINGS ACCOUNTS LONG-TERM CAPITAL OPTION SUPERANNUATION SCHEME INFORMATION DEVELOPING COUNTRIES TAX COLLECTION DEVELOPING ECONOMIES CAPACITY BUILDING CLEARING HOUSE RETIREMENT SYSTEM FEE PRICE TAX PRICE CAPS PENSION SYSTEM PENSION REFORMS LONG-TERM INVESTMENT PAYMENTS SAVING PRIVATE PENSION PRICE COMPETITION PENSION INSURANCE MARKET RETAIL MASS MARKET DRIVERS JURISDICTIONS SAVINGS MARKET CONCENTRATION COMMERCE TRAINING LOW-INCOME COUNTRIES TRUSTEES FINANCES PRODUCTS OPTIONS TRANSFERS PAYMENT MARKETS RETURN SOCIAL PROTECTION BASIS POINT STANDARDS PRODUCT LABOR INVESTMENT STRATEGY FINANCIAL SYSTEM ASSET ACCUMULATION PENSION FUNDS FINANCE EFFICIENCY BANK POLICY EMERGING MARKETS AUCTIONS INVESTORS GOOD PENSION FUND ASSETS INFORMAL WORKERS CAPITAL TRANSPARENCY FINANCIAL STABILITY FUTURE FAMILY VALUE PENSIONS BANK RETURNS DEMAND CONTRACT PRIVATE PENSIONS DEFAULT MARKET EMPLOYERS DEMAND FOR CAPITAL MANAGEMENT MARKET DISRUPTION GOVERNANCE INSURANCE INVESTMENT STRATEGIES INTERESTS EMPLOYER COST REDUCTIONS SECURITY ECONOMIES OF SCALE INVESTMENT RATES OF RETURN SHARE PENSION ASSETS PUBLIC FINANCES POVERTY GLOBAL STANDARD SUPPLY PURCHASING GLOBAL PENSION INNOVATION PROFIT BORROWING RATES OF RETURNS PRODUCTIVE INVESTMENT PENSION FUND FEES FAMILIES OUTREACH OUTCOMES PAYMENT SYSTEMS FUND ASSETS ACCOUNT MANAGEMENT PRICES FINANCIAL OUTREACH CONSUMER PROTECTION MARKET FORCES EMPLOYEES COMPETITION Price, William New Lessons from Australia to Improve Pension Outcomes |
| geographic_facet |
East Asia and Pacific Australia |
| relation |
Finance in Focus; |
| description |
The Australian Government commissioned
the independent Financial System Inquiry or ‘Murray Review’
to provide recommendations to improve private pensions
(superannuation), as well as financial system resilience,
innovation and consumer protection. This continues
Australia’s proactive approach - regularly reviewing how to
improve a system that already has good features. The
recommendation for a clear (and legally binding) statement
of what the retirement system is trying to achieve is a
sensible move. It mirrors what is happening in a range of
World Bank projects, to start with the long-run outcomes and
then work backwards to find the best ways to achieve them,
in terms of regulation, supervision, market structure and
efficient infrastructure. This note reviews the key analysis
and recommendations from the review of the private pension
system in Australia known as the ‘Murray Review’. It
provides a commentary on the implications for pension
reforms using World Bank experience in a range of projects. |
| format |
Brief |
| author |
Price, William |
| author_facet |
Price, William |
| author_sort |
Price, William |
| title |
New Lessons from Australia to Improve Pension Outcomes |
| title_short |
New Lessons from Australia to Improve Pension Outcomes |
| title_full |
New Lessons from Australia to Improve Pension Outcomes |
| title_fullStr |
New Lessons from Australia to Improve Pension Outcomes |
| title_full_unstemmed |
New Lessons from Australia to Improve Pension Outcomes |
| title_sort |
new lessons from australia to improve pension outcomes |
| publisher |
World Bank, Washington, DC |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/2016/04/26222074/new-lessons-australia-improve-pension-outcomes http://hdl.handle.net/10986/24286 |
| _version_ |
1764456329475260416 |