Essential Report

Main retirement income

Dec 3, 2013

Q. After you reach retirement age, what do you expect will be your main source of income?

 

Total

 

Men

Women

 

Aged 18-34

Aged 35-54

Aged 55+

The Government age pension

27%

25%

29%

20%

26%

45%

Your superannuation

43%

49%

38%

49%

43%

33%

Other investments

15%

14%

16%

18%

15%

11%

Other

2%

1%

2%

1%

1%

5%

Don’t know

12%

11%

14%

12%

15%

7%

* Excludes already retired or not working

43% expect their superannuation will be their main form of income after retirement and 27% will mainly rely in the age pension. 45% of those aged 55+ expect to rely on the age pension compared to 20% of those aged 18-34.

Of those on higher incomes ($1,600+ pw), only 15% expect to rely on the age pension – 54% expect superannuation to be their main source of income and 23% said they would rely on other investments.

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