Essential Report

Main source of retirement income

Apr 8, 2015

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+   Dec 2013
The Government age pension 25% 24% 27% 15% 28% 42% 27%
Your superannuation 39% 39% 39% 44% 33% 40% 43%
Other investments 15% 20% 10% 17% 16% 11% 15%
Other 2% 2% 2% 1% 2% 5% 2%
Don’t know 19% 16% 23% 23% 22% 2% 12%

39% expect their superannuation will be their main form of income after retirement and 25% will mainly rely in the age pension. 42% of those aged 55+ expect to rely on the age pension compared to 15% of those aged 18-34.

Of those on higher incomes ($1,600+ pw), only 13% expect to rely on the age pension – 49% expect superannuation to be their main source of income and 20% said they would rely on other investments.

The main change since this question was asked in December 2013 was that those who “don’t know” has increased from 12% to 19%.

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