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Pension underfunding in the Australian public sector: a generational accounting perspective

Klumpes, P J M and McCrae, M (1998) Pension underfunding in the Australian public sector: a generational accounting perspective. Working Paper. The Department of Accounting and Finance, Lancaster University.

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Abstract

We examine the financial dimensions and accounting implications of pension under-funding in the Australian public sector. A generational-based accounting perspective provides important insights to explain why public sector funds are under-funded. We project the burden of under-funded government employer pension obligations to three generational cohorts of public sector employees, based on a data set describing flow of funding characteristics of 10 federal, state and local Australian government funds in the early 1990s. We find wide variations in interperiod inequity across various levels of Australian government in our sample. Employer contributions required to bring pension funds into generational balance is an important determinant of cross-sectional variations in pension under-funding practices across the sample, after controlling for other variables used in prior studies.

Item Type: Monograph (Working Paper)
Subjects:
Departments: Lancaster University Management School > Accounting & Finance
ID Code: 48571
Deposited By: ep_importer_pure
Deposited On: 11 Jul 2011 22:00
Refereed?: No
Published?: Published
Last Modified: 27 Jul 2012 01:10
Identification Number:
URI: http://eprints.lancs.ac.uk/id/eprint/48571

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