What Future for the Future Fund?

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Title What Future for the Future Fund?
Author Makin, Anthony John
Journal Name Economic Papers
Editor Professor Harry Clarke
Year Published 2009
Place of publication Australia
Publisher Wiley-Blackwell Publishing Asia
Abstract This paper questions the rationale for the Future Fund. Contrary to existing policy, it proposes that further budgetary contributions needed to meet the Australian Government's future superannuation liabilities be sourced from the expenses side of the federal budget on a predetermined basis, rather than until recently from budget surpluses ex post. New general formulae are derived for estimating the magnitude of annual budgetary contributions required to stabilise, as well as fully cover, unfunded liabilities many years ahead. Illustrative estimates are then provided of federal budgetary contributions needed to cover the Australian Government's unfunded superannuation liabilities. The paper concludes by suggesting that the superannuation-related activities of the Future Fund be wound up with the transfer of its assets to the trustees of existing government superannuation funds.
Peer Reviewed Yes
Published Yes
Alternative URI http://dx.doi.org/10.1111/j.1759-3441.2009.00012.x
Volume 28
Issue Number 2
Page from 121
Page to 129
ISSN 0812-0439
Date Accessioned 2009-11-18
Language en_AU
Faculty Griffith Business School
Subject Macroeconomics (incl Monetary and Fiscal Theory)
URI http://hdl.handle.net/10072/29559
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1

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