Dataset Link: Click Here
Pubilication Date: 29 July 2021
The Retirement Income Review was commissioned to ‘establish a fact base of the current retirement income system’ to improve the outcomes it delivers for Australians. This report contributed to the work of the Review by presenting results from an online survey about retirement planning, saving and attitudes. Specifically, the survey sought to answer questions under four broad themes:
(1) Retirement expectations, and attitudes towards the ‘retirement income system’: When do people expect to retire? Do they expect to have a better lifestyle in retirement than their parents? Do they expect the Age Pension will still be available when they retire? If so, do they expect the Age Pension will maintain its current value?
(2) Retirement planning and saving: How much do people plan for retirement generally? If they do, what factors do they consider regarding how much they will need, how much to save, and where to invest?
(3) Voluntary superannuation contributions: How many people make voluntary contributions? How much do they contribute? And why? In particular, why don’t more people make more voluntary contributions? Are they aware of tax concessions? And how much do tax concessions influence decisions to make voluntary contributions?
(4) Financial advice: Where do people get their advice? How does advice influence retirement saving decisions?