Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/275192 
Year of Publication: 
2023
Citation: 
[Journal:] Journal of Risk and Financial Management [ISSN:] 1911-8074 [Volume:] 16 [Issue:] 2 [Article No.:] 124 [Year:] 2023 [Pages:] 1-38
Publisher: 
MDPI, Basel
Abstract: 
We use the 2018 survey data from the Household, Income, and Labour Dynamic (HILDA) in Australia and the Household Economic Survey (HES) in New Zealand to investigate the retirement income sufficiency in Australia and New Zealand. Our baseline results indicate that the annuitized net wealth is greater for Australian retirees than for New Zealand retirees. However, New Zealand retirees enjoy a higher level of life satisfaction than Australian retirees. Further analysis reveals a significant greater pre- and postretirement income for the top 10% of wealthy Australian retirees, mainly due to the higher level of homeownership in Australia within this group. Our study fills the gap in the existing literature, which studies the macro- and microlevel influences on Australia and New Zealand retirees, and it also offers important policy implications.
Subjects: 
Australia
Blinder-Oaxaca decomposition
demographic traits
government pension system
income sufficiency
individual financial positions
New Zealand
retiree
retirement planning
JEL: 
D14
D31
G51
I31
J14
J17
J26
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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