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Provision for retirement: Who does what? Distribution of superannuation contributions, lump sum payments and capital incomes of tax filers 1995-96: New national estimates

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Julie Tinnion
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Conference Paper 98/1

Paper presented at the Sixth Colloquium of Superannuation Researchers, University of Melbourne, 9-10 July 1998.

People provide for their retirement using both superannuation and other financial assets. This paper presents the results of a RIM study into the distribution of superannuation contributions, superannuation pensions and annuities, lump sum payments and superannuation contributions received by individuals who filed personal tax returns in the 1995-96 income tax year. The study has generated considerable information about these distributions by gender, age and taxable incomes of tax filers.

The data show that men are making more financial provision for their retirement than women in most age groups. Average taxable incomes, employer superannuation contributions, superannuation pensions, eligible termination payments and gross dividends received by women are less than those received by men in most age groups. Average gross interest and net rents received by women tend to be higher than amounts received by men.

Most superannuation contributions, private pensions and capital income amounts broadly increase with taxable incomes. There are some lower local peaks in capital incomes which might be influenced by the prevalence of retirees in a particular taxable income group.

Although per capita saving for retirement peaks in the 45 to 54 age group, the 35 to 44 and the 55 to 64 age groups are also making substantial provisions. The low average value of ETPs and the small numbers of people receiving non government superannuation pensions suggest that policies aimed at increasing private provision for retirement are desirable.