The Intergenerational Report may have pointed to the need for Australians to remain longer in the workforce, but a survey conducted by an industry superannuation fund suggests few people actually want to do so.
The survey, conducted by Equipsuper, found nearly three quarters of respondents would be reluctant to delay their retirement.
According to the survey, 72.3 per cent said they could see 'no positives' in working longer.
However the survey also pointed to others who believed staying longer in the workforce would serve to keep them connected and active.
It said the biggest motivator for working longer was clearly not having enough super (36.6 per cent) or believing the pension would be insufficient (18.8 per cent).
However it also noted that 31.7 per cent of respondents had said that continuing working would provide a sense of purpose.
The survey suggested that poor health (38.6 per cent) and wanting to spend more time with family (28.7 per cent) were the stand-out reasons for not working.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
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