POWERED BY MOMENTUM MEDIA
Retirees don’t know what is enough
Most working Australians simply don’t know how much they will have to live on after they retire, according to a survey published by AXA in late January.
The study found that only 18 per cent of working Australians knew their retirement income, and while around 50 per cent of Australians believe they will be comfortable in retirement, they were largely unaware of how that is going to be achieved.
Commenting on the outcome of the survey, AXA general manager of sales and marketing, , said the study showed it would be difficult for most working Australians to understand if they would be financially ready to retire by their ideal age of 54.
“Although the research indicates working Australians are starting to prepare for their retirement at 33, earlier than their retired counterparts who began at 40, many working Australians have not sought financial advice about retirement or outlined a plan on how they will provide for their future after retirement,” he said.
Emery said the study showed that Australians were more reluctant than any other country surveyed to be completely responsible for their retirement financing.
“It is becoming increasingly difficult to make the right choices about one’s retirement without seeking quality financial advice. We feel Australians should actively plan for their future rather than leaving it to chance.”
Consumer and trends commentator, said the AXA data portrayed an alarming gap between Australians’ perception of retirement and the planning required to realise their retirement dreams.
AUTHOR
Mike Taylor
Recommended for you
Super funds are strengthening systems and modelling member benefits ahead of payday super.
The Australian Taxation Office (ATO) has approved real-time payments for superannuation, removing a major hurdle ahead of payday super reforms.
The responsible investment body has emphasised the importance of clear communication as ART takes a substantial shareholding in Tabcorp.
Australian super funds have posted early gains in FY26, driven by strong share market performance and resilient long-term returns.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
74.26 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
72.60 3 y p.a(%)
3
Global X GlobalX FANG+ ETF
44.46 3 y p.a(%)
4
Pengana High Conviction Equities B
39.12 3 y p.a(%)
5
Pengana High Conviction Equities A
39.05 3 y p.a(%)
