An ageing population means there are 670,000 people planning to retire in the next 5 years1. People are also living longer and experiencing healthier lives compared to previous generations2.
MetLife research3 shows 69% of people aged between 40-60 years are concerned about outliving their retirement savings and that half (51%) of all people surveyed don’t have a retirement plan.
These factors are leading to uncertainty around how much a person can spend during retirement, as well as how long retirement savings need to last. Without appropriate retirement planning, people risk outliving their retirement savings or living too conservatively and not making full use of the funds they have available.
Superannuation funds can play an important role with 70% of people saying they trust their fund to help them make informed decisions around their retirement savings4.
Read the white paper to learn more.