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    W12 Revision: Much Like Midsession Format Can Use Dot Boings Eg Why Don't PPL Use Annuity Adverse Selection - Expand

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    The document provides an outline for lecture topics on retirement income policies and superannuation in Australia. It includes 3 key points: 1) The government intervenes in retirement policies due to market failures like double taxation, adverse selection, and individuals' tendency towards myopia and procrastination. The government addresses this through the Age Pension and policies like automatic enrolment in superannuation. 2) Australia's retirement system has three pillars - the Age Pension, compulsory Superannuation Guarantee, and voluntary savings. The superannuation system is evaluated based on individual and economy-wide impacts on equity, efficiency, and other factors. 3) Taxation of superannuation is important to

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    W12 Revision: Much Like Midsession Format Can Use Dot Boings Eg Why Don't PPL Use Annuity Adverse Selection - Expand

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    The document provides an outline for lecture topics on retirement income policies and superannuation in Australia. It includes 3 key points: 1) The government intervenes in retirement policies due to market failures like double taxation, adverse selection, and individuals' tendency towards myopia and procrastination. The government addresses this through the Age Pension and policies like automatic enrolment in superannuation. 2) Australia's retirement system has three pillars - the Age Pension, compulsory Superannuation Guarantee, and voluntary savings. The superannuation system is evaluated based on individual and economy-wide impacts on equity, efficiency, and other factors. 3) Taxation of superannuation is important to

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    Finals

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    The document provides an outline for lecture topics on retirement income policies and superannuation in Australia. It includes 3 key points: 1) The government intervenes in retirement policies due to market failures like double taxation, adverse selection, and individuals' tendency towards myopia and procrastination. The government addresses this through the Age Pension and policies like automatic enrolment in superannuation. 2) Australia's retirement system has three pillars - the Age Pension, compulsory Superannuation Guarantee, and voluntary savings. The superannuation system is evaluated based on individual and economy-wide impacts on equity, efficiency, and other factors. 3) Taxation of superannuation is important to

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    Download as rtf, pdf, or txt
    9 views3 pages

    W12 Revision: Much Like Midsession Format Can Use Dot Boings Eg Why Don't PPL Use Annuity Adverse Selection - Expand

    Uploaded by

    favoureit
    The document provides an outline for lecture topics on retirement income policies and superannuation in Australia. It includes 3 key points: 1) The government intervenes in retirement policies due to market failures like double taxation, adverse selection, and individuals' tendency towards myopia and procrastination. The government addresses this through the Age Pension and policies like automatic enrolment in superannuation. 2) Australia's retirement system has three pillars - the Age Pension, compulsory Superannuation Guarantee, and voluntary savings. The superannuation system is evaluated based on individual and economy-wide impacts on equity, efficiency, and other factors. 3) Taxation of superannuation is important to

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    of 3

    2 hrs 4 essay, choice of 4 out of 5 Much like midsession format

    Can't say research shows, need to say Bateman et all (2001 shows)... Not many papers - <10 No need to reproduce find details of experiment, eg they tested 100 ppl, specific data, just the findings. But say Framing changes decisions, fin'l literacy matters

    Can use dot boings Eg why don't ppl use annuity Adverse selection - expand

    W12 revision
    ER highlighted

    W1
    What is the govt's rationale 2 intervene? (Why do we need a formal govt policy) Expand dot pts on market failure Double taxation Adverse selection, inefficient taxes Means testing of AP Failure to plan Myopia, complexity, procrastination Poverty relief and redistribution Other - Econ efficiency How has govt responded? AP - poverty prevention Automatic enrolment in some countries and SG in Aus How to assess ret income policies? Indiv impact Economy wide impact - equity, efficiency, etc W2 Not in exam Alternative models Does it matter what type of pension scheme you have?

    W3
    Move from general idea to say what Aus actually does. Aus has 3 pillars In summary, SG is a privately managed DC system Have clear understanding of ret income policy in Aus How do u evaluate the super sys from individual view W4 From understanding rules and contributions, and benefit to super industry

    For general purpose, know legal structure Characteristics Nfpfs perform better Legacy of the idnstry

    W5 very impt lecture on taxation


    Does it matter how super is taxed For exam, know comparison of alternative tax regimes for ret savings Difference Know How super is taxed in Aus Henry tax recommendations Evaluate the current taxation of super in Aus against cretiera of equity efficiency and simplicity In some topics, finals covers more than one question. W6 regulation Rmb trustee is the sole responsible party for prudent operation of fund

    Topic7 the age pension


    Impt - AP is impt component, only source of income for long time. Even after SG intro'd still impt. Bc AP is means tested, impt to understand interaction with SG. Understand design features U don't need to calculate anything in final exam But need to know impact of means testing Argument for & against Some countries don't have means testing, universal, Aus is targeted Link with Henry review

    Topic8 superannuation

    Previous weeks, super syst as whole, accumulation phase , now benefit phase Does it matter what type of ret benefit u have? Know dif product addresses diff risks Impt - know life annuities Key is to address what risk? Demand side issues - Link to behavioural reasons supply side issues - why don't ppl supply, because... Insurance? recomm of Henry tax (supply side focus rather than demand) about annuities

    W9 investment strategies for super


    Dif types Who is resp? Trustees currently, cooper says shud change depend on engagement.

    MySuper - need to understand. Going to replace super. Know motivations Govt tried to address inactive members Ie Tried to make default better, competitive, low fees, comparable, know key design features Impt - AA decisions 2 type s of strategies Balanced, risk based - only looks at risk prefs, regardless of age Lifecycle, age based - takes human cap into account as part of ur asset. As ur age increases, ur human cap increases.

    W10 behav finance


    Key msg - when govt makes pension ret income decisions, govt thinks everyone's rational. But not the case due to behav reasons, leading to suboptimal decisions Naive simplification Framing - presenting same info in dif ways can change decisions Hence changes annuitisation (Links to annutisation) Just know key findings, a bit more than lec notes

    W11 int'l issues


    Why countries don't do DC systems

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