Retirement for Australians

The majority of Australians will outlive their super

A new report from financial services group Deloitte warns that more than
three quarters of Australians won't have enough superannuation to last them
throughout their retirement .

The report also finds that the increase in compulsory superannuation
contributions to 12 per cent - legislation for which was introduced into federal recently -
won't significantly benefit retirees until well after 2030.

In their report Dynamics of the Australian Superannuation System: the next years 2011-2030,
Deloitte finds Australia's superannuation industry will grow in value to more than
$6 trillion by 2030, but the average Australian just won’t have enough to comfortably live in retirement.

So what can you do?The conclusion is inescapable – you have to look after your own financial future.


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