Employment-based pensions[ edit ] A retirement plan is an arrangement to provide people with an income during retirement when they are no longer earning a steady income from employment. Often retirement plans require both the employer and employee to contribute money to a fund during their employment in order to receive defined benefits upon retirement.
Australian settlement This section is missing information about something.
Please expand the section to include this information. Further details may exist on the talk page. February Australia's average GDP growth rate for the period — was 3. As opposed to many neighbouring Southeast Asian countries, the process towards independence was relatively peaceful and thus did not have significant negative impact on the economy and standard of living.
Economic liberalisation[ edit ] From the early s onwards, the Australian economy has undergone intermittent economic liberalisation. Inunder prime minister Bob Hawkebut mainly driven by treasurer Paul Keatingthe Australian dollar was floated and financial deregulation was undertaken.
Early s recession[ edit ] Main article: Early s recession The early s recession came swiftly after the Black Monday of Octoberas a result of a stock collapse of unprecedented size which caused the Dow Jones Industrial Average to fall by This collapse, larger than the stock market crash ofwas handled effectively by the global economy and the stock market began to quickly recover.
But in North America, the lumbering savings and loans industry was facing decline, which eventually led to a savings and loan crisis which compromised the well-being of millions of US people. The following recession thus impacted the many countries closely linked to the USs, including Australia. Paul Keating, who was prime minister at the time, famously referred to it as "the recession that Australia had to have.
Mining in Australia Mining has contributed to Australia's high level of economic growth, from the gold rush in the s to the present day. The opportunities for large profits in pastoralism and mining attracted considerable amounts of British capital, while expansion was supported by enormous government outlays for transport, communication, and urban infrastructures, which also depended heavily on British finance.
As the economy expanded, large-scale immigration satisfied the growing demand for workers, especially after the end of convict transportation to the eastern mainland in Australia's mining operations secured continued economic growth and Western Australia itself benefited strongly from mining iron ore and gold from the s and s which fueled the rise of suburbanisation and consumerism in Perththe capital and most populous city of Western Australia, as well as other regional centres.
Global financial crisis[ edit ] Further information:As the open source movement reaches the two-decade milestone, thoughts turn to the movement's achievements and future goals.
A pension (/ ˈ p ɛ n ʃ ə n /, from Latin pensiō, "payment") is a fund into which a sum of money is added during an employee's employment years, and from which payments are drawn to support the person's retirement from work in the form of periodic payments.
A pension may be a "defined benefit plan" where a fixed sum is paid regularly to a person, or a "defined contribution plan" under. A good business plan will help your farm or food production business succeed.
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