Do retirees have an income problem?

For older Australians, information and advice about the financial aspects of retirement has never been more available – which, for some, makes the ‘correct’ path ever more confusing.

How much do we need for a ‘comfortable’ retirement? Are we being asked to save too much? Does the Age Pension allow for a dignified retirement? For home owners and renters?

A recent panel discussion at the Grattan Institute looked at how current generations are faring in retirement, and what kind of life in retirement we can expect. Panellists discussed the policy levers such as the Super Guarantee, superannuation draw-down rules, retirement age, the Age Pension and means testing.

Grattan Institute editor and moderator Paul Austin sought the views of:

  • John Daley, chief executive of the Grattan Institute since it was founded eight years ago
  • Peter Davidson, senior adviser with the Australian Council of Social Service, specialising in employment, social security, superannuation and tax policies, income distribution and poverty
  • Kaye Fallick, publisher of retirement website YourLifeChoices, writer and commentator on all matters retirement and retirement income.

Their views and robust debate can be heard below:

Is it too big a challenge to rent on an Age Pension? Is rent assistance out of touch with reality?

Related articles:
Are retirees frugal or broke?
The best place to retire
Six sins of saving

Written by Janelle Ward


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