Study looks at success of Australia's retirement system

04/23/2013 | Time.com

More than 90% of workers in Australia have employer-based savings accounts, compared with less than half of American workers. Research from the Center for Retirement Research at Boston College finds that more Australian plans have provisions for automatic enrollment and contribution escalations, and the country has more rules limiting early distributions from retirement-savings accounts. These private savings accounts are part of a three-part retirement system in Australia.

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