Department of Applied Finance and Actuarial Studies
David Bell Seminar
- Topic: Variability of Australians' projected retirement financial outcomes
- Speaker: David Bell, Candidate - Post-Graduate Certificate in Research Methods, Department of Applied Finance and Actuarial Studies, Macquarie University
- Venue:E4A 623
- When: 16th November, 2011, (Wed)
- Time: 4-5pm
This thesis analyses the variability of likely retirement financial outcomes of Australians. Variability is gauged by varying the key factors which influence the outcomes. Factors considered include real wages, market returns, mortality outcomes and discretionary savings levels. Factors are calibrated to Australia's retirement income system for both existing and future possibilities. The model simulates a range of outcomes for future retirees and outcomes are assessed to gauge the impact of different factors. The importance of providing a range of outcomes rather than point estimates is highlighted. Existing literature which assesses the impact of different factors on retirement financial outcomes is enhanced by assessing the relative significance of different factors.