POWERED BY MOMENTUM MEDIA
Poorer Australian expect to work beyond 70
Nearly one in five Australians now believe they will retire when they are aged 70 or older, according to new research released by National Australia Bank (NAB) wealth management entity, MLC.
The research, the MLC Wealth Sentiment Survey, has confirmed continuing uncertainty in the minds of Australians about whether they will have accumulated enough for a comfortable retirement, but has identified a clear trend with respect to people expecting to stay longer in the workforce.
The research, covering the third quarter of 2015, showed the majority of Australians (31 per cent) expect to retire between the ages of 65 and 69, with more people expecting to retire before age 65, but with nearly one in five now believing they will retire when they are 70 or older.
However the research suggested there was a direct correlation between a person's wealth and that person's expectations with respect to retirement age.
It found that, generally, those in the highest income group expected to retire earlier, with 47 per cent of those earning over $100,000 expecting to retire before age 65, compared to 36 per cent for those earning less than $35,000.
It said more Australians on lower incomes expected to retire aged over 70, with 25 per cent of those earning between $35,000 and $50,000 expecting this would be the case.
Recommended for you
Private market assets in super have surged, while private debt recorded the fastest growth among all investment types.
The equities investor has launched a new long-short fund seeded by UniSuper, targeting alpha from ASX 300 equities using AI insights.
The fund has strengthened efforts to boost gender diversity, targeting 40:40:20 balance across its investment teams by 2030.
The lower outlook for inflation has set the stage for another two rate cuts over the first half of 2026, according to Westpac.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
92.15 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
53.24 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
43.15 3 y p.a(%)
4
DomaCom Shoreline North Coogee
36.26 3 y p.a(%)
5
GAM LSA Private Shares AU I
35.87 3 y p.a(%)
