The CSIRO-Monash Superannuation Research Cluster has produced an update on the latest superannuation-based research papers.
The cluster has produced around 45 working papers addressing the themes of 'superannuation and the economy' and 'Australians over 60'.
Key findings of the most recent working papers:
1. Do milestone ages affect investment behaviour?
While substantial milestone effects were not observed, age is expected to play a role in influencing investment choices, though it is unclear at what age this occurs or whether it is a gradual adjustment.
Milestone Birthday Events and Retirement Investment Behaviour
2. How important is it to employ older workers?
With an ageing population and a forecast labour shortage, it is increasingly important to be able to attract and retain skilled older workers. Managers are urged to develop a workplace culture that will not discriminate against older employees, but help support them.
Retaining Australian older workers - a literature review, Retaining Australian older workers - a guide to good practice
3. What major issues may emerge from the changing demographic landscape?
For individuals and organisations to function effectively, better decision-making in relation to employment, retirement and financial planning will be crucial. The intersection of financial decisions and the labour market will have considerable implications for data-gathering and analysis.
Later-life employment and retirement: Individual perspectives and employer mediations
4. What obstacles affect public-private partnerships (PPP)? - In progress
A lack of transparency and disclosure in financial reporting, and additional financial costs after PPP's financial close date, can cause significant losses for those involved in PPPs, with those exposed to higher demand seeing greater losses.
When Public Private Partnerships turns sour: Australian evidence
5. How do household assets affect the age pension?
Retirees with superannuation can improve their incomes by converting some of their superannuation balance into a product such as an annuity, which can be particularly beneficial for those who do not own their homes.
Household Assets Among Australian Age Pensioners: A preliminary analysis of data from the Department of Human Services
6. How do people feel about automated financial advice?
Many people are open to automated advice, some even preferring it to a human adviser. Young adults and those with a higher income tended to be more interested in automated advice.
Consumer attitudes to automated financial advice
You can find more information at the Research Cluster website.