A Review Of Australia's Compulsory Superannuation Scheme After A Decade

Jon Stanford and Michael Drew

No 322, Discussion Papers Series from University of Queensland, School of Economics

Abstract: The Australian superannuation system places trustees in the key role of managing superannuation assets and we subject the role of trustee to close scrutiny while identifying the very substantial principal-and-agent problems that exist in the industry. We consider two policy issues: member choice of fund and portability of accumulated balances in the light of how they would improve the ability of individual members to maximise retirement benefits and the efficiency of the system. We argue that the award superannuation scheme which requires, by conditions in industrial awards, contributions of three per cent of wage or salary of an employee continues along side the SG scheme is due for review.

Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:qld:uq2004:322

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