The research, conducted by HSBC, reveals only 21 per cent of Australians believe they have saved enough for a comfortable retirement – 20 per cent less than their American peers and the second lowest volume in the study.

Despite this lack of confidence, HSBC’s research found Australians are the least active when it comes to managing their savings, with only 38 per cent of Australian Baby Boomers seeking information on retirement funding, compared with the global average of 50 per cent.

“Thinking about retirement can be daunting, but there are simple tactics you can employ to proactively manage your retirement which could help to alleviate those fears,” HSBC Australia’s head of wealth Scott Ellis said.

“Our research also showed Australians are not taking advantage of the many resources available online for managing their retirement. Only a quarter of working age people surveyed had researched options online, compared to 35 per cent globally,” he said.

Mr Ellis noted that Australians of working age are the third least likely to actively move their money to increase their returns, and Australian members of Generation X are risk averse when compared to members of the same generation internationally.

“Planning your own finances is complex and can feel overwhelming, but ignoring the opportunities and many free resources available could end up costing you more in the long term,” he said.

more on this topic

Retirement Planning

Young educators prioritise retirement over home ownership and family planning

In a significant shift from traditional financial priorities, young educators in Australia are placing greater emphasis on saving for retirement over other life milestones such as home ownership, ...Read more

Retirement Planning

Retirement happiness on the rise, but cost-of-living worries cloud confidence

Australians aged 60 and over are generally positive about their retirement, but concerns about the rising cost of living continue to impact their lifestyle and financial security, according to the ...Read more

Retirement Planning

Australia's retirement system nears tipping point as withdrawals surpass contributions

State Street has unveiled a significant new research series, "Reimagining Retirement," which highlights a critical juncture for Australia's retirement system. The study, released on 1 April 2026, ...Read more

Retirement Planning

Online wills initiative aims to boost superannuation and retirement engagement

In a bid to increase engagement with superannuation and retirement planning, Aware Super has expanded its online wills service, following a successful pilot program. The initiative, launched in ...Read more

Retirement Planning

New digital platform revolutionises retirement planning for Aware Super members

A groundbreaking digital platform by Aware Super is transforming the way retirees plan and manage their pensions, with significant results already seen in the pilot phase. The tool, named Retirement ...Read more

Retirement Planning

The retirement mortgage squeeze: how one bank turned a demographic risk into a strategic edge

An increasing share of Australians are entering their 60s still paying off mortgages, just as living costs and interest charges stay stubbornly high. For banks, super funds, retailers and ...Read more

Retirement Planning

The retirement mortgage crunch: what it means for banks, retailers and policy in Australia

A growing share of Australians are carrying mortgages into their 60s and beyond, colliding with persistent cost-of-living pressures and a “slow grind” macro outlook. This isn’t just a social story; it ...Read more

Retirement Planning

Majority of Australians still unsure about their retirement prospects

A recent survey conducted by MFS Investment Management® has shed light on the ongoing uncertainty faced by many Australians regarding their retirement plans. Despite a slight increase in confidence ...Read more