Report

Taxation in Aging Societies: Increasing the Effectiveness and Fairness of Pension Systems

Agustin Redonda, Vincenzo Galasso, Mark Mazur, Miranda Stewart, Matthew Whittaker

Task Force “Aging Population and its Economic Impact + Immigration (T20) | Published : 2019

Abstract

Population aging is accelerating worldwide and has significant socio-economic implications, including a decline in the size of the labour force, an increase in the age-dependency ratio and a redistribution of income and wealth. Hence, the redesign of pension systems has become a priority. Taxation is crucial to influence behaviour and tackle these issues, e.g. tax incentives for pension savings. Yet, whereas some progress has been made, much remains to be done to increase the effectiveness and fairness of pension systems. Thus, we urge G20 governments to take a systemic view of pension systems including socio-economic aspects such as education, migration, labour force participation and infor..

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University of Melbourne Researchers