Management and Regulation of Pension Schemes - 9780367591830

Taylor & Francis

Management and Regulation of Pension SchemesAustralia a Cautionary Tale\nAuthor(s): Nicholas Morris\nFormat: Paperback\nPublisher: Taylor & Francis Ltd, United Kingdom\nImprint: Routledge\nISBN-13: 9780367591830, 978-0367591830\nSynopsis\nPerhaps the greatest long-term challenge facing modern economies is how to pay for the living expenses and care costs of the elderly. Following policy decisions made in Australia in the 1990s, a substantial part of the pension requirements of the next cohort of retirees will be met from savings accumulated during working years. The effective management of these savings is crucial. If they are invested wisely, the assets available to fund pensions and care will grow; if not, available funds may turn out to be insufficient. Unfortunately, there is considerable evidence worldwide that the management of funds attracts rent-seeking behaviour by the financial services industry which erodes much of the potential return.\n\nAustralia introduced compulso.