Retirement Wealth Decisions in Australia’s Superannuation System: Part 3, Decumulation

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Drew, Michael
Tharenou, George
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Peter Miller

Date
2008
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Abstract

This is the final study in a series of three papers examining retirement wealth decisions in Australia's superannuation system. The work seeks to introduce a holistic approach to examining decision making across the key stages of retirement wealth provision, namely: accumulation; conversion; and, decumulation. The central idea considered in this study relates to the decumulation of superannuation savings. Using a sample of 365 Australians over the age of 45, we consider three areas: financial market factors (the integration of the public pension with superannuation), attitudes to superannuation and annuity market features (the lack of financial advice/knowledge, and the skewing of savings towards housing), and the influence of demographic characteristics (gender and income) in light of decumulation outcomes.

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Australasian Journal of Business and Social Inquiry

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6

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2

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© 2008 Academic Global Publications P/L. This is the author-manuscript version of the paper. Reproduced in accordance with the copyright policy of the publisher. Please refer to the journal link for access to the definitive, published version.

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Business and Management

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