Value of superannuation

Apr 8, 2013

Q. Which of the following statements is closest to your view?

 

Total

Vote ALP

Vote Lib

Vote Greens

Men

Women

Aged 18-34

Aged 35-54

Aged 55+

Contributing to superannuation is the best way to prepare for retirement

51%

53%

49%

63%

53%

49%

46%

48%

62%

There are better ways to prepare for retirement such as investing and buying property

34%

34%

37%

24%

35%

33%

38%

37%

23%

Don’t know

15%

13%

14%

13%

12%

18%

16%

15%

15%

 

51% agreed that contributing to superannuation is the best way to prepare for retirement and 34% agreed that there are better ways to prepare for retirement.

Highest support for contributing to super came from Greens voters (63%), aged 55+ (62%) and incomes $1,000-1,600 pw (59%).

Retirement income

Apr 8, 2013

Q. After you reach retirement age, what do you expect will be your main source of income?

 

Total

Vote
ALP

Vote Lib

Vote Greens

Men

Women

Aged 18
-24

Aged 25
-34

Aged 35
-44

Aged 45
-54

Aged 55
-64

The Government age pension

27%

32%

24%

29%

25%

29%

9%

16%

27%

36%

42%

Your superannuation

34%

34%

37%

34%

38%

31%

51%

32%

33%

28%

38%

Other investments

20%

15%

24%

18%

21%

18%

20%

30%

20%

16%

8%

Other

2%

3%

2%

2%

1%

4%

3%

1%

1%

3%

4%

Don’t know

17%

16%

13%

17%

16%

17%

17%

20%

19%

16%

8%

* Based on respondents aged under 65.

34% of those aged under 65 believe that superannuation will be their main source of income in retirement. 27% think they will depend more on the age pension and 20% on other investments.

Men were more likely than women to think super would be their main source of income (38%/31%).

46% of those earning less than $1,000 pw think they will rely more on the age pension while 42% of those earning $1,000+ pw think their super will be their main form of income.

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