There is a problem. At least that is what an overwhelming number of retirees say when asked about the adequacy and fairness of the Age Pension.
It’s an opinion shared by The Australia Institute’s (TAI) senior economist Matt Grudnoff, who points out that one in four retirees in Australia are living in poverty. The Age Pension system, he says, is both “inadequate and hugely complex”. But he has a solution – a Universal Age Pension.
YourLifeChoices, in partnership with TAI, publishes quarterly updates analysing the latest Australian Bureau Statistics (ABS) and Consumer Price Index (CPI) data, in order to create the benchmarks you need to best manage your household finances. Our aim is simple – to provide the most accurate and timely information relevant to all six retirement tribes, as defined by home ownership, relationship status and retirement income.
This enables all retirees to consider which tribe best fits their circumstances and compare spending with the norm for that type of retiree household. Edition number four, the most comprehensive yet, is now available for your viewing. It has the latest ABS data on expenditure for retiree households, updated with the September 2017 quarter CPI.
Don’t miss out. You know that the key to a more affordable retirement is staying well informed. And that’s what YourLifeChoices is here to help you do.
So here it is, the December-quarter Retirement Affordability Index™ ready for you to download in PDF format.
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