Australia’s lauded private-pension system is under scrutiny
An inquiry has exposed a number of egregious rip-offs
PAUL KEATING, a former prime minister of Australia, calls the country’s superannuation system “the envy of the developed economies”. In many ways, it is. The “super”, as Aussies call their private-pension provision, was a crowning achievement of Mr Keating’s premiership. In 1992 he made it compulsory for employers to set aside 3% of all but the very lowest-income workers’ wages. The payment has since crept up to 9.5%, and, by law, will rise further in 2021.
This article appeared in the Finance & economics section of the print edition under the headline “Not so super”
Finance & economics August 18th 2018
- Turkey’s crisis is not fundamentally contagious
- The contrarian case for emerging markets
- Australia’s lauded private-pension system is under scrutiny
- Litigation finance offers investors attractive yields
- Life-insurance policies with perks make it to America
- New software helps uncover Mafia crime masked as ordinary business
- African governments let too many taxpayers off the hook
- How to design carbon taxes
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