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26th Colloquium on Pensions and Retirement Research

Monetary growth

International Conference on
'Pensions, Retirement and Inequality'

 

The 26th Colloquium on Pensions and Retirement Research will be held on 2-3 July 2018 at the Colombo Theatres, UNSW Sydney.

The Colloquium, co-hosted by CEPAR and the School of Risk & Actuarial Studies in the UNSW Business School, is a unique annual event, bringing together academics, government and industry to discuss the latest research on pensions, superannuation and retirement. 

Registration

Online registration is available via 2018-colloquium.eventbrite.com.au.

Please register by 28 June.

Venue

The colloquium will take place in the Colombo Theatres at the UNSW, Kensington Campus (B16). Please have a look at the map.

Transport / getting to UNSW

The UNSW Kensington campus is located in Sydney's eastern suburbs, accessible via public transport from Central Station and other major transportation hubs located throughout Sydney. As parking on and around the UNSW campus is limited due to current light rail constructions, we encourage you to use public transport or travel by taxi to UNSW. Find further information on how to get to the campus on the UNSW website.

Program

The theme for 2018 is Pensions, Retirement and Inequality

The conference will feature a keynote lecture on Pensions and Inequality by world renowned pension expert Olivia S. Mitchell, Professor at the Wharton School of the University of Pennsylvania.

The theme aligns closely with the UNSW Grand Challenge Program and several Colloquium activities will contribute to the Inequality Grand Challenge.

For further information, contact us on cepar@unsw.edu.au

Day 1: Monday, 2nd July

9.00-9.05

Welcome and introductory remarks

9.05-10.35

Session 1

Colombo A

Opening plenary

(Chair – Hazel Bateman)

 

1.

Flexible Pensions and Labour Force Withdrawal

Erik Hernæs (Ragnar Frisch Centre for Economic Research, Norway), Zhiyang Jia (Ragnar Frisch Centre for Economic Research, Norway), John Piggott (UNSW Sydney, CEPAR) and Trond C Vigtel (Ragnar Frisch Centre for Economic Research, Norway)

2.

Motivated Saving: The Impact of Projections on Retirement Saving Intentions 

George Smyrnis (The University of Sydney), Hazel Bateman (UNSW Sydney, CEPAR), Isabella Dobrescu (UNSW Sydney), Ben Newell (UNSW Sydney) and Susan Thorp (The University of Sydney)

3.

Longevity Risk Aversion, Financial Risk Aversion, Values, and Allocating Assets in Retirement

Paul Gerrans (UWA), Geoffrey N. Soutar (UWA), Julie Lee (UWA)

 

10.35-11.00

Morning Tea – Colombo Foyer

 

11.00-12.30

Contributory Sessions

Session 2A

Colombo A

Adequacy

(Chair – Héloïse Labit Hardy)                                      

1.

Australia’s Retirement Income Policy

Laura de Zwaan (QUT) and Scott Poynting (QUT)

2.

Issues with Household Decision Making and the Australian Retirement Income System

Helen Hodgson (Curtin Law School), Siobhan Austen (Curtin Business School), Monica Costa (Curtin Business School), Rhonda Sharp (University of South Australia)

3.

An Empirical Evaluation of Retirement Income Adequacy Benchmarks in Australia Jimmy Feng (Monash University), James Mullaly (Monash University), Rebecca Valenzuela (Queensland Productivity Commission)

 

Session 2B

Colombo B

Distributional Effects

(Chair – Andrés Villegas)                                               

1.

Unequal Burden of Retirement Reform: Evidence from Australia

Todd S Morris (University of Melbourne)

2.

Gender Disparities in Retirement: Lifetime Pension Liabilities Using Stochastic Mortality Assumptions and Case Studies Illustrating Policy Options

Junyi Pan (ANU), Fei Huang (ANU), Jananie William (ANU)

3.

Reducing Inequality in Retirement Incomes – Is Progress Being Made?

Ross Clare (ASFA)

 

Session 2C

Colombo C

Longevity

(Chair – Mengyi Xu)

1.

Health Status and Functional Disability with Systematic Trends: A Comparison between China and the U.S.

Yu Fu (Central University of Finance and Economics), Michael Sherris (UNSW Sydney, CEPAR), Mengyi Xu (UNSW Sydney, CEPAR) and Zixi Li (UBS Hong Kong)

2.

Predicting the Lifetime Costs of Aged Care for People Currently in the Work Force David Cullen (NDIS)

3.

Subjective Health Expectations of Older Australians

Olena Stavrunova (UTS)

 

12.30-1.45

Lunch – Colombo Foyer

 

Session 3

Colombo A

1.45-2.30

Keynote address: Wealth Inequality and Financial Literacy

Professor Olivia S. Mitchell (Wharton)

(Chair – John Piggott)

 

2.30-3.30

Plenary Session - Modelling Retirement Outcomes

(Chair – John Piggott)

1.

ISA-Rice Warner Retirement Outcomes Model

Richard Dunn (Rice Warner)

2.

Grattan’s Retirement Income Model

John Daley, Brendan Coates and Trent Wiltshire (Grattan Institute)

 

3.30-4.00

Afternoon Tea – Colombo Foyer

 

4.00-6.00

Contributory Sessions

Session 4A

Colombo A

Housing and Retirement (Chair – George Kudrna)

1.

A Dynamic Approach to the Role of Housing Liquidation Options in Optimal Consumption among Retirees

Jelita Noviarini (University of Otago), Andrew Coleman (University of Otago), Helen Roberts (University of Otago) and Rosalind Whiting (University of Otago)

2.

A Life Cycle Study of Household Decisions on Housing Demand: With Taxation Subsidies to Owner Housing and to Rental Housing Respectively

Xiangling Liu (UNSW Sydney, CEPAR)

3.

The Economic Impacts of Superannuation in a General Equilibrium Model with Housing

Xiao Chun Xu (UNSW Sydney, CEPAR) and George Kudrna (UNSW Sydney, CEPAR)

4.

The Role of Home Equity for Retirement Financial Planning in China

Hazel Bateman (UNSW Sydney, CEPAR), Hanming Fang (University of Pennsylvania, CEPAR), Katja Hanewald (UNSW Sydney, CEPAR) and Shang Wu (First State Super, CEPAR)

 

Session 4B

Colombo B

Investment and Retirement Products (Chair – Héloïse Labit Hardy)

1.

Indexed Annuity Bonds - A Market Failure to Create the Ideal Pension Investment?

Anthony Asher (UNSW Sydney)

2.

Measured Investment Inefficiency of the Australian Superannuation System

Wilson Sy (Investment Analytics Research)

3.

Choosing and Using Utility Functions in Forming Portfolios

Geoffrey J. Warren (College of Business and Economics, ANU)

4.

The Implications of Mortality Heterogeneity on Longevity Sharing Retirement Income Products

Héloïse Labit Hardy (UNSW Sydney, CEPAR), Michael Sherris (UNSW Sydney, CEPAR) and Andrés M. Villegas (UNSW Sydney)

 

Session 4C

Colombo C

Retirement Outcomes (Chair – Kevin Liu)             

1.

The Value of Financial Advice for Australian Retirees

Shang Wu (First State Super and CEPAR)

2.

Analysing the Comprehensive Income Products for Retirement (CIPRs) Framework

David Bell (Mine Super and UNSW) and Estelle Liu (Mine Super)

3.

The Role of Deferred Group-Self Annuitisation Products for Retirement

David Bell (Mine Super and UNSW) and Estelle Liu (Mine Super)

4.

Metrics for Comparing Retirement Income Strategies: A Road Test

Nick Callil, Hadas Danziger, and Tom Sneddon (Willis Towers Watson)

 

6.00

Bus departure to the conference dinner venue

6.45-7.15

Pre-Dinner Drinks (L’Aqua Darling Harbour)

7.15-10.00

Conference Dinner (L’Aqua Darling Harbour)

Guest Speaker:

Mathew Keeley (GROW Super)

 

Day 2: Tuesday, 3rd July

Session 5

9.00-10.15

Colombo A

Panel: The new future for financial advice

TBA

 

10.15-10.45

Morning Tea – Colombo Foyer

 

10.45-12.45

Contributory Sessions

Session 6A

Colombo A

Taxation, Governance and Defaults

(Chair – Kevin Liu)

1.

Sustaining the Super System: How the Regulators and the Market Reacted to the Most Significant Super Tax Changes in a Decade?

Gordon Mackenzie (UNSW Sydney)

2.

When Boards use Related Parties:  Outsourcing and Superannuation Fund Performance

Kevin Liu (UNSW Sydney) and Elizabeth Ooi (UWA)

3.

Whose Best Interests?  The Effects of Member Heterogeneity on Strategy Optimality in Australian Superannuation Funds

Scott Donald (UNSW Sydney)

4.

Slow and Steady: Drawdown Behaviours in Phased Withdrawal Retirement Income Products

Igor Balnozan (UNSW Sydney)

 

 


Session 6B

Colombo B

Sustainability

(Chair – Andrés Villegas)

1.

The Silver Tsunami - An Analysis of Retirement Finance in Australia

Barbara Chambers (Monash Business School), Ruth Walker (Flinders University), Yuanyuan Gu (Macquarie University) and Jimmy Feng (Monash Business School)

2.

NDC Schemes and Heterogeneity in Longevity: Proposals for Redesign

Robert Holzmann (Austrian Academy of Sciences, Vienna, Research Center for Social Security and CEPAR), Jennifer Alonso-Garcia (Groningen University and CEPAR), Héloïse Labit Hardy (UNSW Sydney, CEPAR) and Andrés M. Villegas (UNSW Sydney, CEPAR)

3.

Study on the Saving of the Elderly Population in the Bay area of Guangdong and Hong Kong

Li Lan Hao Qi (Kunming University of Science and Technology) and Lan Qiong (Guangdong Baiyun University)

4.

Sustainable and Equitable Pensions with Means Testing

George Kudrna (UNSW Sydney, CEPAR), Chung Tran (ANU) and Alan Woodland (UNSW Sydney, CEPAR)

 

Session 6C

Colombo C

Pensions and Wellbeing 

(Chair – Mengyi Xu)

1.

Effects of Age Pension, Intergenerational Transfers and Expected Future Care Support on Quality of Life Among Older Chinese

Cathy Gong (Centre for Research on Ageing, Health and Wellbeing, ANU and CEPAR), Hal Kendig (Centre for Research on Ageing, Health and Wellbeing, ANU and CEPAR)

2.

Retiree Life Satisfaction: Is There More to it than Health and Wealth?

Dorothy Dudley (Faculty of Health Sciences, University of Sydney), Kate O’Loughlin (Faculty of Health Sciences, University of Sydney), Sophie Lewis (FASS, UNSW Sydney) and Vanessa Loh (Business School, University of Sydney)

3.

An Analysis of Australian Retirement Village Contracts and the Need for Accurate, Impartial Consumer Advice

Timothy Kyng, Sachi Purcal, Jinhui Zhang, Denise Jepsen and Joanne Earl (all Macquarie University)

4.

Moving Beyond ‘Age’ and ‘Retirement’

David Williams (My Longevity Pty Ltd)

 

12.45-2.00

Lunch – Colombo Foyer

 

2.00-3.30

Session 7

Colombo A

Plenary Session – Consumer Financial Decisions

(Chair – Hazel Bateman)

 

1.

How Does Consumer Vulnerability Relate to Positive and Negative Financial Outcomes? The Mediating and Moderating Role of Individual Psychological Constraints

Arvid Hoffmann (University of Adelaide) and Simon McNair (Leeds University)

2.

Behavioral Influences and the Bequest Motive in Presence of Illiquid Savings

Jennifer Alonso-Garcıa (Groningen University, CEPAR), Hazel Bateman (UNSW Sydney, CEPAR) and Ralph Stevens (CPB The Netherlands, CEPAR)

3.

Downsizing in Later Life: A Matter of Time Perspective?

Joanne Earl (Macquarie University), Mydair Leila Hunter (Macquarie University) and Hazel Bateman (UNSW Sydney, CEPAR)

3.30-3.45

Conference close

 

Date: 
Monday, July 2, 2018 - 09:00
End date: 
Tuesday, July 3, 2018 - 16:00
Location: 
Colombo Theatres, UNSW, Sydney, Australia