POWERED BY MOMENTUM MEDIA
Post-retirement plans going unfulfilled
Just under one-third of older Australians will be able to realise their post-retirement dreams, with the rest left disappointed due to a lack of savings, research showed.
REST Industry Super's online poll found that while 52 per cent of Australians have a retirement bucket list, only 32 per cent will be able to tick off the items on the list.
More than half (53 per cent) of respondents said they want to travel the world, while 43 per cent want to go on a road trip, and 30 per cent want to leave an inheritance to their children.
REST Industry Super CEO Damian Hill said that while it was good to see Australians with grand plans, he is most concerned that one in six (17 per cent) thinks they will not be able to cross any items off their list.
"Too often people underestimate the cost of retirement, and the gap between what people think they need to retire on and what they require in reality is often significant," Hill said.
He added a bucket list could be a motivational tool to save for retirement.
"Consolidating your superannuation accounts, salary sacrificing and taking an active interest in how your superannuation is invested are small steps you can take earlier in life to maximise your retirement returns," he said.
The online poll included 1000 respondents over the age of 55.
The March 2014 Association of Superannuation Funds of Australia Retirement Standard showed a couple wanting a comfortable retirement needs $57,817 a year, while a couple wanting a ‘modest' retirement lifestyle need $33,509 a year.
Recommended for you
The superannuation industry will be judged by its member services rather than how effectively it accumulates wealth, according to Stephen Jones.
The profit-to-member super funds are officially operating as a merged entity, set to serve over half a million members.
Super Review announced 21 winners at the annual Super Fund of the Year Awards, including the recipient of the prestigious Fund of the Year Award.
A research firm has given UniSuper a glowing review, praising its strong leadership and “compact team”, as well as its “creditable governance” structure.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
Spire Oaktree Opportunities XI Second Close
61.07 3 y p.a(%)
2
Spire Oaktree Opportunities XI First Close USD
59.21 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
32.57 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
32.09 3 y p.a(%)
5
DomaCom 4/27 Crombie Avenue Bundall QLD 4217 Australia
27.42 3 y p.a(%)
