Almost half Australian retirees are struggling financially
/A new survey has revealed that nearly half of Australian retirees are struggling financially. The survey was conducted by Industry Super Australia and shows that over a quarter of recently-retired have had to go back to work.
Key findings from the survey include:
Retirement was not a choice for nearly 45 per cent of workers
Thirty-eight per cent of recent retirees reported living on a very tight budget with only enough for essentials, or that they did not have enough to live on, with a 2010 survey finding 30 per cent in this category
Twenty per cent said their retirement was not as comfortable as they were expecting
The survey was conducted on 734 industry superannuation fund members aged 47 or older in an online or telephone interview between December 2019 and January 2020.
