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Retiring is no longer so super for many #superannuation

ALMOST half of the 2.6 million full-time workers over the age of 45 say they intend to cut back to part-time hours before retirement. But 13 per cent of this age group say they do not plan to retire ever, Bureau of Statistics figures released yesterday show.

For those over the age of 45, the average age of retirement now stands at 58 years for men and 50 for women, with one in four men and one in five women retiring due to sickness, an injury or disability.

The figures highlight the continuing disparity between the amount of money people think they will need in retirement and the reality of their situation.

In an earlier survey, 45 per cent of those aged 45 years and over who had retired reported that a government pension or allowance was their main source of personal income at retirement. But in the newest figures, almost 2.1 million – about two-thirds of all those who were retired – indicated that the pension was their main source of current income.

Read more: http://www.smh.com.au/national/retiring-is-no-longer-so-super-for-many-201112…

About Darin Sullivan (1969 Articles)
Former President of the Fire Brigade Employees’ Union (2009-2018) and a professional firefighter with more than 25 years’ experience. I live and work on the NSW South Coast, Australia. I am a strong advocate for firefighters and emergency service workers with an interest in mental health issues and caring for those around me. I am a Director on the NSW Fire Brigades Death and Disability Super Fund and work with charities including ‘The Movember Foundation’. As a leader and activist I have long been active in the campaign for action on climate change. I am a Station Commander in the fire and rescue service in NSW and have 30 years experience fighting fires, both rural and urban. I am passionate about highlighting the impact climate change is having on fire preparedness and fire behaviour in Australia, and the risks associated with inaction on climate change. I am also a spokesperson for the Australian Climate Media Centre.
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