Essential Report

Attention paid to retirement arrangements

Mar 31, 2015

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 2014 Jul 2014
A lot of attention 16% 19% 13% 9% 13% 31% 21% 15%
Some attention 38% 40% 35% 37% 39% 35% 35% 33%
Not much attention 26% 22% 29% 29% 32% 12% 27% 29%
None at all 16% 16% 17% 19% 12% 19% 15% 16%
Don’t know 4% 4% 5% 6% 4% 3% 3% 7%

16% say they pay a lot of attention to arrangements for retirement income and a further 38% say they pay some attention. 42% pay no or not much attention. This indicates a little more attention being paid to retirement income that when this question was asked in July.

Interest in retirement income increases with age – 31% of those aged 55+ are paying a lot of attention compared to just 9% of those aged 18-34.

Those on higher incomes also pay more attention to their retirement income – 62% of those earning $1,600+ pw are paying a lot or some attention compared to 36% of those earning under $600 pw.

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