Technical Paper 2000/1
This paper outlines in some detail the legislative provisions relevant to the Retirement and Income Modelling (RIM) Unit’s modelling of superannuation, social security payments and income tax arrangements and how the RIMHYPO model has accommodated those provisions. It should not, however, be used as a legal interpretation of the relevant legislation. Rather, the paper includes specific reference to the relevant provisions of the law so readers may more easily look them up.
Originally developed by the then Retirement and Income Modelling Task Force, RIMHYPO is an individual hypothetical model of the interaction of superannuation accumulations with the tax and social security systems over the lifetimes of hypothetical individuals and couples. RIM Unit continues to develop the model reflecting recent policy and legislative changes.
Taking account of personal characteristics such as salary level, marital status etc, RIMHYPO specifically models the accumulation of superannuation benefits, the drawdown of the associated retirement benefits and income streams and the associated tax and social security interactions for individuals and couples over their lifetimes.