Utkarsh Kapoor, Reza Tajaddini, Amir Moradi-Motlagh
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Abstract
This study examines the effect of the early tax-free release of the superannuation (ERS), which was introduced as a financial stimulus to counter the economic havoc created by the COVID-19 pandemic, on Australians' superannuation retirement balances. By considering 2800 scenarios based on individuals' working industries, age, withdrawal amounts, and asset allocation strategies, we find that individuals with non-aggressive asset allocation strategies may struggle to reach the minimum required superannuation balance for a comfortable lifestyle in retirement if they opt-in for the ERS. This impact is more evident for individuals employed in certain industries such as accommodation and food, and retail trade.
期刊介绍：
Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance.
Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.
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