Essential Report

Attention paid to retirement arrangements

Jul 22, 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

 

Men

Women

Aged

18-34

Aged

35-54

Aged 55+

 

Mar 14

A lot of attention

15%

14%

15%

4%

12%

31%

21%

Some attention

33%

36%

31%

28%

37%

35%

35%

Not much attention

29%

29%

29%

39%

30%

14%

27%

None at all

16%

14%

19%

20%

13%

16%

15%

Don’t know

7%

7%

7%

9%

8%

3%

3%

15% say they pay a lot of attention to arrangements for retirement income and a further 33% say they pay some attention. 45% pay no or not much attention.  This indicates somewhat less attention being paid to retirement income that when this question was asked in March.

Interest in retirement income increases with age – 31% of those aged 55+ are paying a lot of attention compared to just 4% of those aged 18-34.

Those on higher incomes also pay more attention to their retirement income – 54% of those earning $1,600+ pw are paying a lot or some attention compared to 42% of those earning under $600 pw.

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