Survey: consumers still have low retirement-savings confidence, especially women
/New research by Qantas Super reveals Australian consumers trust their superannuation fund as much as they trust their bank to act in their best interests in the wake of the Royal Commission.
Key findings of the study include:
Sixty per cent of Australians trust their super fund to act in their best interests
Fifty-four per cent of those surveyed trust banks to act in their best interests
Australians are slightly more confident than previous studies indicated that they will have enough money to retire comfortably - scores at the same time last year were 4.9 out of 10, with the rating now sitting at 5.4
Forty per cent of respondents reported a high or very high degree of confidence in their ability to retire comfortably
Around 30 per cent of women reported little to no confidence in their ability to retire comfortably
Thirty-eight per cent of women said they knew how much money they needed for retirement
The Retirement Confidence Index (RCI) survey was conducted in 2019, surveying 1,000 people selected from an online panel. Qantas Super commissions the survey regularly.
