Register For Our Mailing List

Register to receive our free weekly newsletter including editorials.

Home / 193

Governments fund more research than we realise

[Editor’s Note: For background, CEPAR is the ARC Centre of Excellence in Population and Ageing Research. ARC stands for Australian Research Council, an Australian Government entity whose mission is to deliver policy and programmes that advance Australian research and innovation globally and benefit the community].

Understanding the changes in our population and its demographics are vital inputs when planning our retirement systems. On 8 September 2016, ARC awarded CEPAR $27.25 million in funding to finance a second research term of seven years. This is a significant achievement and the many people involved, notably Professor John Piggott (Centre Director) and Marc de Cure (Chair of CEPAR’s Advisory Board), deserve congratulations.

To put this win into context, consider the other eight winners of ARC funding:

  • ARC Centre of Excellence for All Sky Astrophysics in 3 Dimensions
  • ARC Centre of Excellence of Australian Biodiversity and Heritage
  • ARC Centre of Excellence for Climate Extremes
  • ARC Centre of Excellence for Engineered Quantum Systems
  • ARC Centre of Excellence for Gravitational Wave Discovery
  • ARC Centre of Excellence in Exciton Science
  • ARC Centre of Excellence in Future Low Energy Electronics Technologies
  • ARC Centre of Excellence for Quantum Computation and Communication Technology

Reactions may include awe at the complexity of some of the topics and the breadth of research areas supported by government funding. A large number of top quality applications were unsuccessful, and I agree wholeheartedly with Piggott’s comment that “population ageing is an issue of paramount importance to all; this is truly the ageing century”.

CEPAR is a good example of collaboration:

  • From a research perspective, while based at UNSW Australia, it applies a best practice model and has research members from the Australian National University, the University of Sydney, the University of Melbourne, the University of Western Australia, the University of Manchester, the University of Pennsylvania and the Wharton School.
  • CEPAR has a collaborative funding model, receiving additional funding from industry and government partners including the major Commonwealth policy departments, large corporates, and the NSW Government. CEPAR also has strong support and engagement with the World Bank, OECD and COTA.

CEPAR’s multidisciplinary approach draws on expertise in actuarial studies, demography, economics, epidemiology, organisational behaviour, psychology and sociology. Piggott explains, “CEPAR’s research programmes are assembled into four interconnected streams, that cover demographic modelling; decision making, expectations and cognitive ageing; work design and successful ageing in the workforce; and sustainable wellbeing in later life. The latter including not only physical but financial wellbeing as well.”

Sometimes it may be difficult to identify the output of a research body. Some of CEPAR’s statistics shed light on the breadth and quantity of output (for the period 2011 to 2015):

Why does this matter for industry and individuals?

People will ask questions such as “How does this all flow down to the real world?” or “How does society benefit from academic research?” The table above demonstrates how research centres are increasingly focusing on more than publication in academic journals (though that will always be important). Modern day research in practice recognises engagement and collaboration are drivers of success.

If research groups engage well, then their research is better positioned and reaches a larger audience. By engaging and collaborating, academic researchers are better informed of research needs and barriers to implementation.

The first draft of this article received strong editorial feedback. It was going to finish with the following paragraph.

Perhaps it is important for industry to ask themselves “Are we sufficiently engaging with the research community?” If you haven’t heard of CEPAR or aren’t aware of the work CEPAR is doing, then it is worth learning more about, especially if you are affected by population ageing (in my case, for instance, superannuation).

However, the alternative paragraph is as thought-provoking.

How many people in industry have heard of CEPAR? Are the metrics tabled above ones which best measure effective engagement? How highly does CEPAR value the benefits of engagement with industry and is it sufficiently core to their culture and philosophy? And how can we more clearly see how the benefits work for the ageing public who pay for their research?

Personally, I feel there will always be the potential for greater levels of collaboration between industry and researchers such as CEPAR. All parties are stepping in the right direction, and there is more to come. In CEPAR’s case, at least seven years and hopefully a lot more.

 

David Bell is Chief Investment Officer at Mine Wealth + Wellbeing. He is working towards a PhD at University of New South Wales.

 

  •   9 March 2017
  • 2
  •      
  •   

RELATED ARTICLES

How long will you live?

banner

Most viewed in recent weeks

Indexation implications – key changes to 2026/27 super thresholds

Stay on top of the latest changes to superannuation rates and thresholds for 2026, including increases to transfer balance cap, concessional contributions cap, and non-concessional contributions cap.

The missing 30%: how LIC returns are understated, and why it matters

The perceived underperformance of LICs compared to ETFs is due to existing comparison data excluding crucial information, highlighting the need for proper assessment and transparent reporting.

Little‑known government scheme can help retirees tap into $3 trillion of housing wealth

The Home Equity Access Scheme in Australia allows older homeowners to tap into their home equity for retirement income, yet remains underused due to lack of awareness and its perceived complexity.

Origins of the mislabeled capital gains tax ‘discount’

Debate over the CGT discount is intensifying amid concerns about intergenerational equity and housing affordability. This analysis shows that the 'discount' does not necessarily favor property investors.

2 billion reasons to fix retirement income

A proposal to address Australia's 'stranded balances' in retirement by requiring super funds to transition members to pension phase at 65, boosting retirement income and reframing super as a source of income.

The ultimate superannuation EOFY checklist 2026

Here is a checklist of 28 important issues you should address before June 30 to ensure your SMSF or other super fund is in order and that you are making the most of the strategies available.

Latest Updates

Investment strategies

Putting portfolios together when the world is falling apart

Global equity markets have grown more correlated due to globalization, but this trend may reverse which boosts the benefits of cross-country diversification.

Property

Housing belongs in the inequality story

Research highlights the significant impact of excluding housing income from income inequality analysis in Australia, arguing for the inclusion of imputed rent and capital gains to provide a more accurate picture.

Exchange traded products

Lithium's rally is real this time – but no-one trusts it

The lithium rally mirrors the early-2010s tech stock surge, with demand set to double by 2030. Supply has been slow to respond, creating a market deficit for future tech like humanoid robotics and solid-state batteries.

Economy

Why is Aussie inflation so stubborn?

Increasing our official cash rate contrasts with almost every other developed country in the world. Canada, UK, Europe, and USA, so far, have not reversed recent cuts while their inflation issues appear to be contained.

Strategy

How to stop Australian democracy going the way of the US

Around the world, democracy as a system of government is backsliding. After more than 50 years of liberal democracy in ascendancy, democratic progress plateaued around the turn of the century and is now going backwards.

Economy

Off-budget, but not off-the hook

Financial commentators await the federal budget with focus on debt and deficit. 'Off-budget' accounting alters the fiscal picture with unseen programs.

Economy

Shares rebound on hopes of war ending, but stalemate the likely outcome

Ashley Owen's abridged monthly snapshot uncovers what is front of mind for investors around the world and his view on the likely outcome of the stand-off in the Middle East.

Sponsors

Alliances

© 2026 Morningstar, Inc. All rights reserved.

Disclaimer
The data, research and opinions provided here are for information purposes; are not an offer to buy or sell a security; and are not warranted to be correct, complete or accurate. Morningstar, its affiliates, and third-party content providers are not responsible for any investment decisions, damages or losses resulting from, or related to, the data and analyses or their use. To the extent any content is general advice, it has been prepared for clients of Morningstar Australasia Pty Ltd (ABN: 95 090 665 544, AFSL: 240892), without reference to your financial objectives, situation or needs. For more information refer to our Financial Services Guide. You should consider the advice in light of these matters and if applicable, the relevant Product Disclosure Statement before making any decision to invest. Past performance does not necessarily indicate a financial product’s future performance. To obtain advice tailored to your situation, contact a professional financial adviser. Articles are current as at date of publication.
This website contains information and opinions provided by third parties. Inclusion of this information does not necessarily represent Morningstar’s positions, strategies or opinions and should not be considered an endorsement by Morningstar.