Superannuation: The Ricardian Crisis Download

Description:

When compulsory superannuation was introduced into Australia in 1992,
the core rationale related to issues of national savings. The Fitzgerald
Report on National Savings (Fitzgerald 1993), commissioned by the
Government to rationalize the shift to superannuation as a
macroeconomic necessity, projected a shortage of savings to fund old age
especially in the face of an ageing population. A stark choice was faced:
either the government needed a greater claim on national savings via
taxation to fund a public pension scheme, or private saving for old age
had to be mandated to reduce the burden on the state’s future welfare
budget. The latter choice prevailed and compulsory superannuation
commenced.

Submitted On:

29 Mar 2007

Submitted By:

admin (admin)

File Date:

29 Mar 2007

File Author:

Dick Bryan

File Version:

v1

File Size:

75.04 Kb

File Type:

pdf

Downloads:

171