The relevance of financial education for retirement savings behaviour

This paper was motivated by the growing literature that suggests that individuals fail to conform to rational economic behaviour when it comes to saving for retirement. A review of the relevant literature confirmed that many individuals fail to save for retirement in a rational way as prescribed by the Modigliani and Brumberg (1954) economic life-cycle model. Numerous studies show that many individuals exhibit irrational behaviour when it comes to planning and saving for retirement. The literature review identified that exposure to financial education programs can positively influence the planning and savings behaviour of retirement fund members.

Theory and accountability : the case of government consolidated financial reporting

The objective in this study is to examine the existing literature regarding the antecedents to public sector accountability performance by including a new variable: preparer-commanders’ beliefs about the usefulness of whole-of-government consolidated financial reporting. Goldberg’s (1965) Commander Theory was used as a relevant theoretical framework. Survey results provided insights into the beliefs of preparer-commanders as to the usefulness of whole-of-government consolidated financial reports for the discharge of accountability. While there appears to be a view that such reports may be useful for decision-making purposes, there is relatively less evidence to suggest that this type of information is suitable for the purposes of government resource allocation decisions.

The role of financial education in retirement planning

Governments in many countries are facing the challenge of providing sufficient retirement incomes for a population that is ageing as a result of lower mortality and fertility rates. An ageing population places considerable financial stress on government budgets as spending on welfare increases, further compounded by a proportional reduction in working-age taxpayers. Exposure to financial education programs can positively influence the retirement planning and savings behaviour of individuals. Research indicates that seminars, written communications and website information are effective methods in communicating financial education. In this study an investigation is conducted into the views of retirement fund members regarding elements of financial education resources made available to them through their retirement fund. Four aspects are investigated, that is, whether there are differences with respect to members’ views between the genders, older and younger members, levels of qualification, and size of superannuation balances. Empirical evidence suggests that gender and age are important factors with females and younger people less likely to utilise educational information and more at risk of not accumulating sufficient funds for retirement.

Financial structure and policy of Australia's retirement system

Inoreasing life expectancies for both males and females in the Asia-Pacific region have resulted in an ageing population. Given an ageing p'opulation, adequate income is of increasing importance to people who will experience longer periods in retirement. This paper provides an overview of the structure of the Australian retirement system which includes a means-tested government provided age pension, retirement savings and voluntary savings. Despite policy Initiatives to boost retirement savings and income, it is concluded that due to the relative immaturity of this system it will fail to provide many community groups (baby-boomers, females, low income earners, long-term unemployed, part-time workers) with an adequate retirement income.

Clinical and economic burden of emergency department presentations for neutropenia following outpatient chemotherapy for cancer in Victoria, Australia

Objective. To examine the clinical characteristics and financial charges associated with treating adult cancer patients receiving chemotherapy in outpatient clinics who presented to the emergency department (ED) with neutropenia.
Design and Setting. A retrospective audit was conducted across two health services involving ED episodes and subsequent hospital admissions of patients who received chemotherapy through day oncology from January 1 to December 31, 2007 and presented to the ED with neutropenia. ED data were collected from the Victorian Emergency Minimum Dataset and charges were collected from Health Information Services. Descriptive and bivariate statistics were used to describe the patient and clinical characteristics and financial outcomes, and to explore associations between these factors.
Results. In total, 200 neutropenic episodes in 159 outpatients were seen in the ED over the survey period. The mean patient age was 56.6 years (standard deviation, 13.2 years) and 47.2% were male. Overall, 70.0% of ED episodes were triaged as Australasian Triage Scale 2 (emergency). The median ED wait time was 10 minutes and the median ED length of stay was 6.8 hours. The median charge for each ED episode was $764.08 Australian dollars. The total combined ED and inpatient charge per episode was in the range of $144.27-$174,732.68, with a median charge of $5,640.87.
Conclusions. This study provides important insights into the clinical and economic burden of neutropenia from both the ED and inpatient perspectives. Alternative treatment models, such as outpatient treatment, early discharge programs or prophylactic interventions to reduce the clinical and economic burden of neutropenia on our health system, must be explored.

Occupant satisfaction of Star Rated Houses in Victoria, Australia

The Victorian government implemented legislation for all new houses to achieve a 6 star rating since May 2011. It is found that having a higher star rating would provide financial and environmental benefits, however the question remains- is this sufficient to satisfy the occupants living in such houses? Are the occupants actually satisfied with the amount of money they have invested in their home? This study investigates the level of satisfaction of occupants living in different star rated houses, and explores if there is a link between the star rating of the house and the satisfaction of the occupants living in such houses.

Out of the shadows: a discussion on law reform for the prevention of financial abuse of older people

Financial abuse of older people too often lives ‘in the shadows, hidden by fear and shame’. This and the protective love between family members can screen changes that are critical to an older person’s financial and living arrangements. Rather than a single event, it is usually a series of well-intentioned but ill-considered financial acts, which at some point tips over into abuse interwoven with an intricate web of family relationships. Was a transfer of title or a loan to an adult child really misappropriation? Has thoughtlessness become undue influence or even theft? 

Leave entitlements, time off work and the household financial impacts of quarantine compliance during an H1N1 outbreak

Background The Australian state of Victoria, with 5.2 million residents, enforced home quarantine during a H1N1 pandemic in 2009. The strategy was targeted at school children. The objective of this study was to investigate the extent to which parents’ access to paid sick leave or paid carer’s leave was associated with (a) time taken off work to care for quarantined children, (b) household finances, and (c) compliance with quarantine recommendations. Methods We conducted an online and telephone survey of households recruited through 33 schools (85% of eligible schools), received 314 responses (27%), and analysed the subsample of 133 households in which all resident parents were employed. Results In 52% of households, parents took time off work to care for quarantined children. Households in which no resident parent had access to leave appeared to be less likely to take time off work (42% vs 58%, p=0.08) although this difference had only borderline significance. Among parents who did take time off work, those in households without access to leave were more likely to lose pay (73% vs 21%, p<0.001). Of the 26 households in which a parent lost pay due to taking time off work, 42% experienced further financial consequences such as being unable to pay a bill. Access to leave did not predict compliance with quarantine recommendations. Conclusions Future pandemic plans should consider the economic costs borne by households and options for compensating quarantined families for income losses.

Application of the reporting entity concept and lodgement of special purpose financial statements

This Research Report analyses the application of the reporting entity concept and the adoption of special purpose financial reporting, particularly by entities lodging financial statements with the Australian Securities and Investments Commission (ASIC) and with state-based regulators in Australia’s three most populous states, namely, Consumer Affairs Victoria, NSW Fair Trading and Queensland Office of Fair Trading. This Report does not cover entities that have their equity interests traded in a public market, such as listed companies, and some other entities with ‘public accountability’.

Food insecurity among university students in Victoria: A pilot study

Aims: Susceptibility to food insecurity can vary over a life course; however, a potential period of particular vulnerability is while studying at a tertiary institution. This pilot study aimed to assess the prevalence, severity and potential determinants of food insecurity among tertiary students attending a Victorian-based institution. Methods: The present study employed a cross-sectional design, involving use of a self-reported questionnaire. The survey, conducted in 2012, was administered to a sample of 124 Deakin University students and contains measures of food insecurity status, demographics and other potential explanatory factors. Descriptive and regression analysis was undertaken to investigate the prevalence of food insecurity and associations with factors that may support or hinder a student's ability to procure food, such as living arrangements, income and knowledge of support services. Results: Food insecurity without hunger was reported by 18% of Deakin University students, while an additional 30% reported experiencing the more severe form of food insecurity (with hunger). A lower odds of being food insecure was reported among students living with their family (without hunger OR 0.35; 95% CI 0.12-0.99; with hunger OR 0.29; 95% CI 0.12-0.70), while a higher odds was found among those receiving government support (with hunger OR 2.52; 95% CI 1.05-6.04). Conclusions: The reported prevalence of food insecurity among the tertiary student sample was greater than the general Australian population, suggesting they are a vulnerable group. This may be attributable to financial pressures faced when students are not living with their parents.

Epidemiological analysis of electroconvulsive therapy in Victoria, Australia

Objective: To determine the population-based utilization rate of electroconvulsive therapy (ECT) in Victoria between 1998-1999, to examine the characteristics of the ECT treated group, and to identify patient factors independently associated with differential rates of ECT treatment. Method: Electroconvulsive therapy is reported under statute in Victoria, Australia. Crude, age-adjusted and age-sex specific utilization rates were calculated using this statutory data for the 1998-1999 financial year and estimated mid-year populations from the Australian Bureau of Statistics. Descriptive characteristics of those treated with ECT were derived from the statutory data. Patient factors associated with an increased likelihood of ECT in the public sector were explored with logistic regression analysis, using non-ECT treated mental health patients from the Victorian Psychiatric Case Register as the reference population. Results: The crude treated-person and age-adjusted rates for the State (both public and private sectors) were 39.9 and 44.0 persons per 100 000 resident population per annum, respectively. The crude and age-adjusted administration rates were 330.3 and 362.6 ECT administrations per 100 000 resident population per annum, respectively. Age-sex specific rates varied by age and sex, with rates generally increasing with age and female sex. Overall, 62.8% of the treated group were women, 32.9% aged over 64, and 75.2% had depression. Diagnosis, age and sex each independently predicted ECT in the public sector, with diagnosis the most important factor, followed by age then sex. Conclusions: Despite decades of use, the appropriate rate of ECT utilization is still unclear. Further research should be directed at exploring the factors, including provider variables, determining ECT treatment.

Ecuadorian migration and family strategies of social mobility: dialectic relation between emotional and financial capital

This text deals with transnational strategies of social mobility in Ecuadorian migrant households in Spain. We apply the capital accumulation model (Moser, 2009) for this purpose. The main target of this article is, beyond thinking in terms of capital stock and accumulation, the analysis in depth of the dynamics of the different types of capital, that is to say, how they interact with each other in the framework of the social mobility strategies of the migrants and their families. We are bringing into light the way some households adopt investing decisions in capitals that don't translate into any addition or earnings in all cases, on the contrary, concentrating all their efforts on the accumulation of a certain asset they may, in some cases, lead to a loss of another. We will concentrate our analysis primarily on the dynamics between the physical and financial capital and the social and emotional capital, showing the tensions produced between these two types of assets. At the same time, we will highlight how migrants negotiate their family strategies of social mobility in the transnational area. Our study is based in empirical material obtained from qualitative fieldwork (in-depth interviews) with families of migrants in the urban district of Turubamba Bajo -(south of Quito) and in Madrid. A series of households were selected where interviews were carried out in the country of origin as well as in the context of immigration, with different family members, analysing the transnational social and economic strategies of families of migrant members. Family members of migrants established in Spain were interviewed in Quito, as well as key informants in the district (school teachers, nursery members of the staff, etc.). The research was framed within the projects "Impact of migration on the development: gender and transnationalism", Ministry of Science and Innovation (SEJ2007/63179) (Laura Oso, dir. 2007-2010),"Gender, transnationalism and intergenerational strategies of social mobility", Ministry of Economy and Competitiveness (FEM2011/26210) (Laura Oso, dir. 201-1-2015) and “Gender, Crossed Mobilities and Transnational Dynamics”, Ministry of Economy and Competitiveness (FEM2015-67164).

Exploring Financial Inclusion for Smallholders: Promoting the Sustainable Development of Smallholder Aquaculture in Developing Countries

Thesis (Master's)--University of Washington, 2016-08