Superannuation and economic security for older Australians: a human rights perspective

Abstract

ABSTRACT Australia’s superannuation system is considered to be a leading example of an economically sustainable defined contribution pension scheme. This paper, however, examines the Australian superannuation system from a human rights perspective. In particular, it seeks to contribute to the debate surrounding superannuation by considering not only whether current superannuation policy is adequate to meet Australia’s human rights obligations under the International Covenant on Economic, Social and Cultural Rights (the “ICESCR”) in terms of the provision of retirement income, but additionally, it examines whether government policy surrounding the regulation of the superannuation industry and its management of retirement monies has been adequate in terms of the Australian government’s ICESCR obligations. Further, it offers a blueprint for how Australia’s retirement income system can more adequately comply with its ICESCR obligations.