The landscape of retirement: where do you fit in?

As Australia’s super system matures, workers will retire with larger balances.

retriees

No one has a crystal ball, but the most recent Intergenerational Report (IGR) noted that, whilst the balance between full and part Age Pension recipients may alter, the proportion of older Australians receiving such retirement support is unlikely to change over the next 40 years.

As the report stated, “Future growth in retirement balances has potential implications for the size of Australian government outlays on the Age Pension.

In 2013-14, around 70 per cent of people of Age Pension age were receiving the Age Pension. Of these, 60 per cent were in receipt of the full-rate pension. As Australia’s super system matures and compulsory contributions increase, many Australian workers will retire with much larger superannuation balances. The proportion of retirees receiving any pension is not projected to decline.”





    COMMENTS

    To make a comment, please register or login
    GeorgeM
    31st Oct 2017
    12:37pm
    2 pieces of disgusting information in these statistics to be read together:
    a. Nearly half (48%) of people over 45 are no longer in the workforce, and
    b. 25% of these are due to "Work no longer available". I suspect some of the other Triggers also could be a cover for the main reason and people did not want to admit that Work was no longer available.
    This is the disgusting achievement of both major political parties who have destroyed industries here, Outsourced major areas of work (such as IT), and imported huge number of unnecessary workers at all levels under 457 visas instead of making companies use these available people here.