The impact of early withdrawal on superannuation balance at retirement: Evidence from Australia

IF 1.8 4区经济学 Q2 BUSINESS, FINANCE

International Review of Finance Pub Date : 2024-05-01 DOI:10.1111/irfi.12452

Utkarsh Kapoor, Reza Tajaddini, Amir Moradi-Motlagh

引用次数: 0

Abstract

This study examines the effect of the early tax-free release of the superannuation (ERS), which was introduced as a financial stimulus to counter the economic havoc created by the COVID-19 pandemic, on Australians' superannuation retirement balances. By considering 2800 scenarios based on individuals' working industries, age, withdrawal amounts, and asset allocation strategies, we find that individuals with non-aggressive asset allocation strategies may struggle to reach the minimum required superannuation balance for a comfortable lifestyle in retirement if they opt-in for the ERS. This impact is more evident for individuals employed in certain industries such as accommodation and food, and retail trade.

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提前取款对退休时养老金余额的影响：澳大利亚的证据

本研究探讨了提前免税发放养老金（ERS）对澳大利亚人养老金退休余额的影响，ERS 是为应对 COVID-19 大流行病造成的经济灾难而推出的一种金融刺激措施。通过考虑 2800 种基于个人工作行业、年龄、提取金额和资产配置策略的情景，我们发现，如果个人选择加入 ERS，那么采用非激进资产配置策略的个人可能难以达到退休后舒适生活所需的最低养老金余额。这种影响对于受雇于某些行业（如住宿和餐饮业以及零售业）的个人更为明显。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Review of Finance BUSINESS, FINANCE-

CiteScore

3.30

自引率

5.90%

发文量

期刊介绍： The International Review of Finance (IRF) publishes high-quality research on all aspects of financial economics, including traditional areas such as asset pricing, corporate finance, market microstructure, financial intermediation and regulation, financial econometrics, financial engineering and risk management, as well as new areas such as markets and institutions of emerging market economies, especially those in the Asia-Pacific region. In addition, the Letters Section in IRF is a premium outlet of letter-length research in all fields of finance. The length of the articles in the Letters Section is limited to a maximum of eight journal pages.