How many retirees in australia

Improvements in your financial satisfaction on retiring tend to occur only among low-income individuals. Unfortunately, not everyone enjoys better health after they retire. Researchers noted on-time retirement — compared with working beyond retirement — was associated with a higher risk of mortality.

They argued retirees are such a diverse group in terms of their employment and life circumstances that what happens to you in retirement is different for different people and often depends on what you do before and after leaving work. The changes brought on by retirement are not just about your physical health. For some people, retirement leads to a deterioration in mental health and happiness, while others find a new lease on life.

Delaying your retirement a few years can also be financially beneficial. If you are aged 55 or over and still working, you can consider taking advantage of the benefits offered by a transition-to-retirement pension TTR or TRIS. This type of pension allows you to supplement your salary with money you withdraw from your super once you reach your preservation age. You pay no tax on your super pension after age 60 and your employer continues to top up your super.

How you make your savings last as long as you do is a key question when considering retirement. Receive our latest insights.

First Name. Retire with confidence tool Are you confident your retirement income is secure? Use the tool. Find out more. Homepage: Am I retirement ready? Learn more. How much do you need to retire? What's the best age to retire? Read article.

Please see our Privacy Policy for details. Skip to content au au. Investment Consulting Investment Consulting. Our Thinking. Go To Section. About Mercer. Mercer Australia Mercer Australia. Events Events. Newsroom Newsroom. Mercer Careers Mercer Careers. Reality This article first appeared in Superfunds magazine May edition. While it seems Australians may not spend as much in retirement as they expect, uncertainly about having enough money in retirement may cause them to be overly frugal.

Meredith Booth, Finance Journalist, writes. Australians underestimate how long they will live In line with similar research, Mercer found young people are underestimating their life expectancy, currently at Mercer Australia Superannuation Fund Services. Mercer partners with Australia's most innovative superannuation funds and employers to create better lives for their members and employees.

Employers and industry have benefitted from Mercer's leading-edge solutions that have changed the future of super. Today, we're Australia's only end-to-end provider of superannuation, administration, asset management and governance services. With our expertise in product and service innovation, customer engagement and global investment insights, we help funds and employers secure a different kind of future for their people.

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