New research shows Australian retirees could become the richest in the world

Retirement Planning

Retirement savings are the reality every Australian has to consider, some groups more than others. Source: Moment RF / Nora Carol Photography/Getty Images

Australian retirees could become one of the richest senior's groups in the world by 2031, according to new research by the Super Members Council.


Key Points
  • Many older women have been disadvantaged due to the historical gender pay gap that disrupted their careers and they are also more likely to be in part-time work.
  • Many older women rely on the Age Pension, a government payment for retirees in Australia.
  • Some advocates and economists have expressed concerns about whether everyday Australians will benefit from Australia's superannuation scheme.
  • A report co-authored by Dr Jericho last October shows 22.8 per cent of Australian retirees live in poverty, compared to 11.1 per cent in Sweden and 3.8 per cent in Norway.
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Can I still catch up with my superannuation if I migrated to Australia in my thirties?

SBS Filipino

22/06/202110:56

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