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Fair crack of the whip? The distribution of augmented wealth in Australia from 2002 to 2018

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  • Maximilian Longmuir

    (Humboldt Universität zu Berlin, Unter den Linden 6)

Abstract

The omission of pension wealth potentially distorts the international comparison of wealth distributions. Private pension wealth is often included in households’ wealth portfolios, while public pension claims are not. Augmented wealth, the sum of net worth and pension wealth, resolves this limitation by including the present value of social security pension wealth. This article provides a detailed analysis of augmented wealth in Australia between 2002 and 2018, capturing the establishment of the compulsory private pension scheme, Superannuation, which was introduced in 1992. Augmented wealth is slightly less equally distributed in Australia than in Germany or Switzerland but more equal than in the United States. The article also explores the relationship between Superannuation dissaving rates and the means-tested public pension scheme, Age Pension, and its distributional implications.

Suggested Citation

  • Maximilian Longmuir, 2023. "Fair crack of the whip? The distribution of augmented wealth in Australia from 2002 to 2018," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 21(4), pages 835-866, December.
    • Handle: RePEc:spr:joecin:v:21:y:2023:i:4:d:10.1007_s10888-023-09575-9
    DOI: 10.1007/s10888-023-09575-9
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