• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Business Report
    • 20 Top Research Organisations
    • Tobacco Laws
  • Takeovers & Mergers
  • Doing Business
    • Start-up
    • Tax Review
  • Video
  • Biz Directory
    • Free Directory Listing
    • Links
  • Guest Post
  • Contact
    • About

Australian Business News and Times

Business News ,Reports and Times of Australia

  • 2011
    • 2010
  • Business
    • Small Business
  • Mining
  • Real Estate
  • Australia
    • Australian
    • ASX
  • Finance
    • Report
  • Offers
  • Times
You are here: Home / Superannuation / it’s not all super

it’s not all super

November 3, 2010 by Reporter Leave a Comment

Yes that’s true .Our “superannuation system” though  seems to be quite good is not the  best in the world. From teh results from the recent “Melbourne Mercer Global Pension Index” which Mercer surveyed 14 countries, the Netherlands was ranked first, followed by Switzerland, Sweden, Australia, Canada, UK, Chile, Brazil, Singapore, the US, France, Germany, Japan and China.

Australia Superannuation system rating

In the duration of the  12 months since the first Melbourne Mercer Global Pension Index was completed, not only has Australia’s raw score dropped, but australia has also taken a tumble down the rankings. The Netherlands obtained top ranking in the Melbourne Mercer Global Pension Index with a score of 76.1 out of a maximum of 100, followed by Australia (74.0), Sweden (73.5) and Canada (73.2).

The Melbourne Mercer Global Pension Index compares retirement income systems around the world and rates them based on their adequacy, sustainability and integrity.

http://www.mercer.com.au

Superannuation australia

Mercer’s Report stated five things that Australia could do to “improve” its Superannuation system.

1. Raise the level of mandatory contributions to improve the level of benefits while also increasing the level of household savings.
2. Introduce a requirement that part of the retirement benefit must be taken as an income stream.
3. Increase the labour force participation rate among older workers.
4. Introduce a mechanism to increase the pension age as life expectancy continues to increase.
5. Reduce the costs of the system by encouraging greater efficiency

How the the Superannuation report was compiled

In 2010 the Melbourne Mercer Global Pension Index was expanded to cover fourteen countries, with the addition of Brazil, France and Switzerland.

In this year’s study four new indicators were included in the calculation of the Index. These were an assessment of the costs of each country’s system; the level of home ownership; asset allocation; and the effect of divorce on the provision of retirement benefits.

Superannuation in australia

Superannuation is a retirement (including pensions) program in Australia. It has a compulsory element whereby employers are required by law to pay an additional amount based on a proportion of an employee’s salaries and wages (currently 9%) into a complying superannuation fund, which can be accessed when the employee meets one of the conditions of release contained in Schedule 1 of the Superannuation Industry (Supervision) Regulations 1994.

Filed Under: Superannuation Tagged With: Australia, super, System

Reader Interactions

Leave a Reply Cancel reply

You must be logged in to post a comment.

Primary Sidebar

Search

Like us on Facebook

Our Twitter Feed

Tweets by @AusBizChannel
Protected by Copyscape Website Copyright Protection

Counter

Footer

Featured Page

research in australia

20 Top Research Organisations

We are compiling a list of top 20 and more research organisations  which are in the government as … Read more about 20 Top Research Organisations

acquistion

Takeovers & Mergers

List and updates Of the latest  Company Takeovers … Read More about Takeovers & Mergers

funding from govt 2017

Australian Business Grants

Establishing a business anywhere in Australia … Read More about Australian Business Grants

listing directory australia

Australian Business Directory

If you are looking for a Free or paid listing on a … Read More about Australian Business Directory

About

About - Australian Business Report and … Read More about About

Guest Post for us

Join Australian Business … Read More about Guest Post for us

Copyright © 2023 · News Pro on Genesis Framework · WordPress · Log in