COVID-19 private pension withdrawals and unemployment tenures

Crawford School of Public Policy
Photo by Gabriella Clare Marino

Event details

PhD Seminar (Econ)

Date & time

Friday 29 April 2022
11.00am–12.00pm

Venue

Weston Theatre Level 1, JG Crawford Building #132, 1 Lennox Crossing, ANU

Speaker

Tristram Sainsbury

Hybrid event - link will be provided upon registration

The paper uses a novel set of linked whole-of-population administrative records to examine more than half-a-million Australians who found themselves newly unemployed in the initial months of the COVID-19 pandemic. The study estimates that receiving a lump sum of up to A$10,000 from superannuation accounts between April and June 2020 resulted in a 77 per cent lower rate of exit from the unemployment system inside the first quarter of unemployment spells, 32 per cent inside 6 months and 14 per cent inside a year. The job-seeking deterrence is temporary but it took close to eighteen months for a convergence between withdrawers and those that didn’t withdraw. Withdrawals are not ‘off public balance sheet’ stimulus in the short (or longer) term.

Updated:  9 August 2022/Responsible Officer:  Crawford Engagement/Page Contact:  CAP Web Team