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What motivates the australian government to make such a move

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Reference no: EM132667866

The current age pension system in Australia is best described as a pay-as-you-go system (PAYG). An alternative system is a fully-funded social security system.

a. Explain the two systems.

b. The Australian Federal Parliament has approved the early access to the superannuation fund up to $20,000 before 30 June 2021 in order to help people adversely financially affected by COVID-19 Crisis. What motivates the Australian government to make such a move? Discuss the impact of this policy on Australian output per worker and the growth of output per worker in the long run

Reference no: EM132667866

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