Sep 17

Past Event

Retirement Savings in Australia, Asia and Beyond: What are the Lessons for the United States?

Event Materials

Audio

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Summary

Australia's mandatory Superannuation Guarantee requires its citizens to save at least 9 percent of their income towards retirement. In many Asian nations, economic growth has spurred reexamination of pension systems to meet the needs of rapidly evolving societies. Would a mandatory savings plan be more effective than the current U.S. voluntary system? How have Asian nations have restructured their pension systems to deal with legacy costs? And what can Americans learn from the way Australia uses both employer and employee representatives to shape investment choices?

On September 17, the Retirement Security Project at Brookings and the AARP Public Policy Institute hosted a discussion of what the United States might learn from retirement savings systems in Australia and Asia. Opening speakers included Nick Sherry, who helped shape the Australian system as a cabinet minister and ran a Superannuation fund in the private sector, and Josef Pilger, an advisor on pension reform to both the Malaysian and Hong Kong governments and many industry providers. Steve Utkus, David Harris and Benjamin Harris, retirement experts from both the United States and the United Kingdom, considered how reforms in Australia and Asia can shape the American debate and whether this country should adopt key features from those foreign systems.

 

Event Agenda

  • Introduction and Overview

  • Pension Reform in Australia

    • Nick Sherry

      former Australian Minister for Superannuation and Corporate Law

  • Pension Reform in Asia

    • Josef Pilger

      Executive Director, Asia Pacific Pension Practice Leader

      Ernst & Young Sydney

  • Response

    • Steve Utkus

      Principal

      Vanguard Center for Retirement Research

    • David Harris

      Managing Director

      Tor Financial Consulting, Ltd.

    • Benjamin Harris

      Senior Research Associate

      Urban Institute

Details

September 17, 2013

1:30 PM - 4:00 PM EDT

The Brookings Institution

Saul and Zilkha Rooms

1775 Massachusetts Ave., NW

Map

For More Information

Brookings Office of Communications

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