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Essays on post-retirement financial planning and pension policy modelling in Australia
thesis
posted on 2022-03-29, 00:39 authored by Jie DingThis thesis presents long-term projections of the cost of public pensions in Australia, with retirees' behaviours modelled with the developed utility model. The thesis assumes that retirees make financial decisions to maximise their lifetime utitlities, and their consumption and asset allocation react to policy changes. The thesis finds that the future cost of the Age Pension to be about 13 percent higher than estimated by the Australian Treasury in 2010's Intergenerational Report. As future cohorts retire with more savings, they can allocate more money into owner-occupied properties while preparing for retirement and draw down their savings faster, to optimise their Age Pension entitlements.
History
Table of Contents
Chapter 1. Introduction -- Chapter 2. Dynamic asset allocation when bequests are luxury goods -- Chapter 3. Australian retirees' chocies between consumption, age pension, bequest and housing -- Chapter 4. Modelling post-retirement finances in the presence of a bequest motive, housing and public pension -- Chapter 5. Superannuation policies and economic responses : how much age pension? -- Chapter 6. Summary and conclusions.Notes
Thesis by publication. Bibliography: pages 290-296Awarding Institution
Macquarie UniversityDegree Type
Thesis PhDDegree
PhD, Macquarie University, Faculty of Business and Economics, Department of Applied Finance and Actuarial StudiesDepartment, Centre or School
Department of Applied Finance and Actuarial StudiesYear of Award
2014Principal Supervisor
Geoffrey KingstonAdditional Supervisor 1
Purcal. SachiRights
Copyright disclaimer: http://www.copyright.mq.edu.au Copyright Jie Ding 2013.Language
EnglishJurisdiction
AustraliaExtent
v, 296 pages illustrations (some colour), graphs, chartsFormer Identifiers
mq:37968 http://hdl.handle.net/1959.14/341794Usage metrics
Categories
Keywords
Retirement incomeIndividual retirement accountsOld age pensions -- Australia -- Mathematical modelsOld age pensionspopulationRetirement income -- Australia -- Mathematical modelsPension trustsretirement income systemsagingOld age pensions -- Government policy -- AustraliaIndividual retirement accounts -- AustraliaPension trusts -- Australia -- Mathematical modelsretirement