Essential Report

Attention paid to retirement arrangements

Mar 18, 2014

Q. In general, how much attention do you pay to arrangements for your retirement income, such as your superannuation returns and fees, wealth management and other forms of long-term savings?

 

Total

 

Aged

18-34

Aged

35-54

Aged 55+

A lot of attention

21%

8%

20%

37%

Some attention

35%

30%

42%

29%

Not much attention

27%

35%

27%

15%

None at all

15%

21%

8%

16%

Don’t know

3%

5%

2%

2%

21% say they pay a lot of attention to arrangements for your retirement income and a further 35% say they pay some attention. 42% pay no or not much attention.

Interest in retirement income increases with age – 37% of those aged 55+ are paying a lot of attention compered to just 8% of those aged 18-34.

61% of men pay a lot/some attention compared to 51% of women.

Those on higher incomes also pay more attention to their retirement income – 63% of those earning $1,600+ pw are paying a lot or some attention compared to 39% of those earning under $600 pw.

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