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No thought for tomorrow: young Australian adultsí knowledge, behaviour and attitudes about superannuation

Citation

Ali, P and Anderson, M and Clark, M and Ramsay, I and Shekhar, C, No thought for tomorrow: young Australian adults' knowledge, behaviour and attitudes about superannuation, Law and Financial Markets Review, 9, (2) pp. 90-105. ISSN 1752-1440 (2015) [Refereed Article]

Copyright Statement

© Crown Copyright in the Commonwealth of Australia 2015 University of Melbourne

DOI: doi:10.1080/17521440.2015.1052667

Abstract

While Australia's superannuation scheme is a fundamental part of supporting and sustaining Australia's increasingly aging and retiring population, young Australians demonstrate consistently poor knowledge of, and behaviour and attitudes towards, superannuation. This study is the first large-scale study of superannuation knowledge, behaviour and attitudes among a representative sample of the general young adult population in Australia. The picture that emerges is generally worse than other studies to date. Young people generally lack a basic understanding of how superannuation operates, do not engage much with their superannuation funds and have poor or uncertain expectations about their prospects for retirement and superannuation's place within an overall retirement plan. The article presents the results and analysis from our survey and considers what those findings suggest about improvements in the provision of information and advice about superannuation.

Item Details

Item Type:Refereed Article
Keywords:superannuation, behavioural economics, financial literacy
Research Division:Economics
Research Group:Other economics
Research Field:Other economics not elsewhere classified
Objective Division:Expanding Knowledge
Objective Group:Expanding knowledge
Objective Field:Expanding knowledge in economics
UTAS Author:Clark, M (Mr Martin Clark)
ID Code:140570
Year Published:2015
Web of Science® Times Cited:1
Deposited By:Law
Deposited On:2020-08-27
Last Modified:2021-09-24
Downloads:0

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