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Equity in Retirement: Are All Australians Getting a Fair Deal?

Published online by Cambridge University Press:  01 January 2023

Anthony Asher
Anthony Asher*
Affiliation:
School of Risk and Actuarial Studies, The University of New South Wales
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Abstract

This article evaluates the Australian retirement system using a framework of justice. Justice (alternatively, equity or fairness) is taken as requiring a full consideration of the criteria of needs, equality, liberty and just deserts, as well as matters of efficiency. Inequity occurs when the interests of weaker stakeholders are given inadequate consideration. Applying these criteria suggests that the Australian retirement system intrudes on the liberty of some groups of stakeholders inconsistently and inappropriately in mandating contributions at younger ages particularly, and by the imposition of unnecessarily bureaucratic means tests. It also fails to provide for the incapacitated older aged.

Keywords

G23H55Annuitisationcompulsionequityfairnessjusticemeans testspensionssuperannuation
Type
Symposium
Information
The Economic and Labour Relations Review , Volume 22 , Issue 3: Australia's Transfer and Tax System Under Review , November 2011 , pp. 65 - 83
Copyright
Copyright © The Author(s) 2011

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