Retirement
Australia ranked in the top 10 for retirement
A global asset management company has ranked Australia as the sixth best country in the world for retirement outcomes, but the nation's slipped in the rankings for retirees’ material wellbeing.
Australia ranked in the top 10 for retirement
A global asset management company has ranked Australia as the sixth best country in the world for retirement outcomes, but the nation's slipped in the rankings for retirees’ material wellbeing.
Natixis Global Asset Management’s 2017 Global Retirement Index, which tracks the wellbeing of retirees around the world, placed Australia at number six globally, behind Norway, Switzerland, Iceland, Sweden and New Zealand.
“Australians can be justifiably proud of our robust retirement system, which is held up as an example of global best practice on many fronts, particularly financial wellbeing,” said Kevin Haran, who heads up Natixis’ Australian business arm.
“There’s no question that Australians benefit from mandatory superannuation polices, which have contributed to ongoing strong performance in the Global Retirement Index.”
However, the material wellbeing of retirees (a measure of retirees’ ability to financially support themselves in retirement based off income per capita) left a little to be desired.
“This suggests that there still needs to be greater individual engagement with super in order for retirees to achieve the outcomes they desire,” he said.
Innovation from the people managing retirement assets will also yield better results for Australia’s retirees and pre-retirees, Mr Haran said, but currently that innovation is lacking.
“Australia’s mandatory superannuation policies are lauded by policy-makers around the world in terms of their improvement to retirement outcomes, however at an individual level, many people don’t have a clear idea of what is needed to retire comfortably,” he explained.
“The asset management industry has a vital role to play here in helping to educate investors; understanding their goals, and constructing durable portfolios to respond to market factors and each individual’s risk tolerance.”
RELATED ARTICLES
Retirement Planning
Majority of Australians anxious about retirement as super knowledge gaps persist, report finds
A new study by Aware Super has revealed that a significant majority of Australians aged 45 and over are feeling anxious about retirement, with nearly nine in ten respondents concerned they will run ...Read more
Retirement Planning
AMP’s MyNorth Lifetime boosts financial security and retirement income
AMP has reported that its MyNorth Lifetime retirement income solution is delivering significant financial benefits to retirees, with an average uplift of 50% in total income. Read more
Retirement Planning
Retirement living sector calls for planning reforms amid declining construction confidence
The Retirement Living Council (RLC) is urging governments to streamline planning systems to boost housing supply, following a decline in confidence in age-friendly construction activity. Read more
Retirement Planning
New laws to boost women's retirement savings through paid parental leave
The Australian Parliament has passed new legislation that will see superannuation guarantee contributions paid on the Commonwealth Government's Paid Parental Leave (PPL) scheme. Read more
Retirement Planning
Planning systems under scrutiny as Australia's ageing population grows
The Retirement Living Council (RLC) has called for governments to address planning system shortfalls in preparation for Australia's ageing population, following the release of new data from the ...Read more
Retirement Planning
Retirement Living Council calls for focus on seniors' housing as population ages
The Retirement Living Council (RLC) has urged governments across Australia to prioritise age-friendly housing solutions in response to new data revealing an ageing population. Read more
Retirement Planning
Macquarie University study reveals benefits of guaranteed income in retirement
A new study by Macquarie University's School of Psychological Sciences has found that mental health, enjoyment, and financial security are key benefits of incorporating guaranteed income and annuities ...Read more
Retirement Planning
Retirement villages offer affordable housing amid market crisis, study finds
Retirement villages are providing a significantly more affordable housing option for older Australians compared to the traditional property market, according to new data released today. Read more
Retirement Planning
Majority of Australians anxious about retirement as super knowledge gaps persist, report finds
A new study by Aware Super has revealed that a significant majority of Australians aged 45 and over are feeling anxious about retirement, with nearly nine in ten respondents concerned they will run ...Read more
Retirement Planning
AMP’s MyNorth Lifetime boosts financial security and retirement income
AMP has reported that its MyNorth Lifetime retirement income solution is delivering significant financial benefits to retirees, with an average uplift of 50% in total income. Read more
Retirement Planning
Retirement living sector calls for planning reforms amid declining construction confidence
The Retirement Living Council (RLC) is urging governments to streamline planning systems to boost housing supply, following a decline in confidence in age-friendly construction activity. Read more
Retirement Planning
New laws to boost women's retirement savings through paid parental leave
The Australian Parliament has passed new legislation that will see superannuation guarantee contributions paid on the Commonwealth Government's Paid Parental Leave (PPL) scheme. Read more
Retirement Planning
Planning systems under scrutiny as Australia's ageing population grows
The Retirement Living Council (RLC) has called for governments to address planning system shortfalls in preparation for Australia's ageing population, following the release of new data from the ...Read more
Retirement Planning
Retirement Living Council calls for focus on seniors' housing as population ages
The Retirement Living Council (RLC) has urged governments across Australia to prioritise age-friendly housing solutions in response to new data revealing an ageing population. Read more
Retirement Planning
Macquarie University study reveals benefits of guaranteed income in retirement
A new study by Macquarie University's School of Psychological Sciences has found that mental health, enjoyment, and financial security are key benefits of incorporating guaranteed income and annuities ...Read more
Retirement Planning
Retirement villages offer affordable housing amid market crisis, study finds
Retirement villages are providing a significantly more affordable housing option for older Australians compared to the traditional property market, according to new data released today. Read more
