ABS data confirms later retirement intentions

5 April 2016
| By Mike |
image
image
expand image

The Australian Bureau of Statistics (ABS) has produced more data confirming the degree to which Australians are choosing to delay their retirements or to phase-down their working hours ahead of retirement.

The ABS this week produced the 2014—15 Multipurpose Household Survey (MPHS) for employed persons which served to confirm earlier data about Australians and their retirement intentions, including that those who intend to retire, 69 per cent are currently working full-time.

It said that, of these, 37 per cent intended to move into part-time work before retiring from the labour force, and 30 per cent intended to continue with full-time work until retiring.

It said that of the 887,100 persons who intended to continue with full-time work until retirement, 72 per cent intended to remain with their current employer and had no further plans to phase in retirement, while a further 12 per cent intended to remain with their current employer but with less demanding duties.

The data showed the average age at which persons intended to retire was 65.1 years (65.7 years for men and 64.5 years for women).

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest developments in Super Review! Anytime, Anywhere!

Grant Banner

From my perspective, 40- 50% of people are likely going to be deeply unhappy about how long they actually live. ...

1 year 4 months ago
Kevin Gorman

Super director remuneration ...

1 year 4 months ago
Anthony Asher

No doubt true, but most of it is still because over 45’s have been upgrading their houses with 30 year mortgages. Money ...

1 year 4 months ago

Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transf...

5 hours 22 minutes ago

The International Monetary Fund (IMF) has issued a sobering assessment of the global economic landscape in its latest World Economic Outlook, dramatically revised after D...

7 hours 58 minutes ago

Growth from the listed company’s key businesses has propelled Generational Development Group to new milestones in the three months to 31 March....

8 hours 1 minute ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND