A Roy Morgan survey conducted over calendar 2018, and published in the second quarter of 2019, indicates that the number of people intending to retire within a year had increased by 6% on the previous year’s level, and 11% above the 2017 figure.
This increase is despite the savings levels of these “intenders” being well below the Association of Superannuation Funds of Australia (ASFA) recommended level to be self-funded. These newly retired Australians are therefore likely to be at least partly reliant on the age pension.
The male and female respondents were evenly balanced in Roy Morgan’s “Single Source” survey, which is based on in-depth interviews conducted face-to-face with more than 50,000 taxpayers.
How ready are intending retirees to fund their retirement? Readmore
