| |
date |
|
event |
| 1898 |
Introduction
of a means-tested, old age pension to those aged 65 and over |
| 1915 |
Tax
exemptions for life insurance extended to superannuation contributions |
| 1938 |
Means
tested old age pension at 60, small universal pension available from age 65 Social
security tax of 1/6d in the pound introduced to pay for scheme, but did not meet annual
costs (fund abolished in 1964 and tax incorporated into PAYE rates) |
| 1975 |
Introduction
of compulsory contributory superannuation scheme |
| 1976 |
Compulsory
scheme abolished and replaced with National Superannuation, a universal pension available
to all those aged 60 and over, without means or retirement test |
| 1985 |
Surcharge
on additional income introduced Tax incentives for superannuation savings removed |
| 1991 |
Surcharge
on additional income increased age of eligibility increased to 65, to be phased in over 10
years |
| 1992 |
Todd
Task Force on Private Provision for Retirement |
| 1993 |
Multiparty
Accord on Retirement Income Policies signed |
| 1997 |
Release
of PRG reports Referendum on Compulsory Superannuation Savings Scheme |
| 1998
|
April:
Surcharge abolished June: Release of the ISI Report on Retirement
|
