Unless Australians work longer or contribute more, their superannuation accumulation will likely be inadequate to support them in retirement.
A new report from Deloitte actuaries & Consultants looks at what the Superannuation Industry, Governments and Members can do to secure a better financial future for Retiring Australians.
Deloitte | Adequacy and the Australian Superannuation System, Financial Services.
The family home is likely to prove more helpful than the pension for overcoming the challenge of Living Longer and wanting to Live Well…
Over-55s forced to use house equity to pay off debts – Telegraph.
Pension indexation – News – YOURLifeChoices Australia.
“The rationale behind the change to indexation, according to Treasurer Joe Hockey, is that with so many Australians living longer, we can no longer afford to cover the costs of the current Age Pension”.
Retirement products need lift to better fit system | Money Management.
Too Little… Too Late? The talk may have finally started but this may not solve the retirement challenge for the largest generation within the Australian population who face that phase of their lives poorly prepared.
Reverse mortgage body pleads for government intervention.
An effective and ethical equity release market needs to emerge in Australia, so that senior Australians will have the ability to tap into the stored wealth of their home in order to live well in retirement and importantly, stay in their home,” Conlon said.
Turning super into income: inquiry opens retirement funding debate.
A good proportion of the Financial System Inquiry’s 460-page interim report is dedicated to a discussion of superannuation and, in particular, to making the financial system better at facilitating the conversion of super into retirement income. The Conversation.
Baby boomers cant afford to retire
“Baby boomers are often touted as one of Australia’s most prosperous generations. They are living longer, retiring later, and commonly labelled as the beneficiaries of Australia’s growing property market,” Ms Sprekos said.
“Our findings tell quite a different tale – current and future retirees are struggling to navigate a range of new affordability pressures for which their superannuation funds may not be sufficient.”
Despite their Housing Wealth, Senior Australians are struggling to fund retirement and are dreading that phase of their lives.
despite their Housing Wealth