Executive Comment: Does Australia?s Pension System Chart A Future Course For Asia? Nov 10

Standard & Poors, November 2010

Abstract
Asian economies with an eye on the future could benefit from a closer look at the development of Australia's superannuation industry. In Australia, the term "superannuation" refers to a funded retirement income plan involving employer contributions to their employees' pensions. Although Standard & Poor's recognizes the cultural, demographic, and economic differences across the region, we believe that current shortfalls in financial services expertise, corporate governance, and risk management stand a much better chance of being overcome the sooner a well functioning pension system is developed across all of Asia. The superannuation sector in Australia gained its momentum during the mid-1980s, when trade unions negotiated widespread retirement-funding arrangements. In 1992, the Labor government introduced a compulsory superannuation guarantee system as part...

Companies mentioned in this report are:
- Australia (Commonwealth of) (Unsolicited Ratings)
- Japan (Unsolicited Ratings)
- Hong Kong (Special Administrative Region)

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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

- Australia (Commonwealth of) (Unsolicited Ratings)
- Japan (Unsolicited Ratings)
- Hong Kong (Special Administrative Region)

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