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Record W3121550188

The Australian Annuity Market

2000· article· en· W3121550188 on OpenAlexaboutno aff
David Knox

Bibliographic record

VenueSSRN Electronic Journal · 2000
Typearticle
Languageen
FieldBusiness, Management and Accounting
TopicFinancial Literacy, Pension, Retirement Analysis
Canadian institutionsnot available
Fundersnot available
KeywordsLife annuityPensionLump sumLife insuranceEconomicsPopulationQuarter (Canadian coin)Private pensionRevenueActuarial sciencePresent valueLabour economicsPaymentDemographic economicsFinanceDemography
DOInot available

Abstract

fetched live from OpenAlex

In Australia, a means-tested old-age
\n public pension is paid from general tax revenues. A full
\n pension (equivalent to roughly a quarter of the average
\n wage) is currently paid to more than half the aged
\n population, and a reduced pension is paid to another quarter
\n of the aged population. About 20 percent receive no old-age
\n public pension because of the level of their income or
\n assets. There is also a compulsory system under which
\n employers contribute at least 7 percent of salaries into a
\n superannuation plan for the vast majority of employees.
\n (This minimum rate will gradually rise to 9 percent in
\n 2002.) More than 80 percent of superannuation benefits are
\n received as lump sums; when public sector employees are
\n excluded, the figure rises to almost 90 percent. The market
\n for private life annuities with longevity insurance is very
\n small. Greater use is made of allocated annuities, which are
\n similar to income drawdowns in the United Kingdom or
\n scheduled withdrawals in Latin American countries. The value
\n of life annuities, measured by the money's worth ratio,
\n compares favorably with that of annuities available in the
\n United Kingdom and United States. But these ratios are
\n calculated on the basis of conservative government bond
\n yields. Many investors prefer allocated annuities--which are
\n perceived to offer considerable advantages in flexibility
\n and higher potential returns--despite the absence of
\n longevity insurance.

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame distilled prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.

metaresearch head score (Codex)0.002
metaresearch head score (Gemma)0.000
Version: codex-gemma-dda1882f352aValidation status: machine_predicted_unvalidated
Candidate categoriesInsufficient payload (model declined to judge)
Consensus categoriesInsufficient payload (model declined to judge)
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Not applicable · Consensus signal: none
GenreCandidate signal: Empirical · Consensus signal: Empirical
Teacher disagreement score0.687
Threshold uncertainty score1.000

Codex and Gemma teacher scores by category

CategoryCodexGemma
Metaresearch0.0020.000
Meta-epidemiology (narrow)0.0000.000
Meta-epidemiology (broad)0.0000.000
Bibliometrics0.0000.001
Science and technology studies0.0010.000
Scholarly communication0.0010.001
Open science0.0010.000
Research integrity0.0000.001
Insufficient payload (model declined to judge)0.0040.001

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.006
GPT teacher head0.213
Teacher spread0.207 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; both teacher heads agree on what is shown here.

Study designNot applicable
Domainnot available
GenreEmpirical

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations5
Published2000
Admission routes1
Has abstractyes

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