Attention paid to retirement arrangements

Mar 31, 2015

Q. In general, how much attention do you pay to arrangements for your retirement income, such as your superannuation returns and fees, wealth management and other forms of long-term savings?

  Total   Men Women Aged

18-34

Aged

35-54

Aged 55+   Mar 2014 Jul 2014
A lot of attention 16% 19% 13% 9% 13% 31% 21% 15%
Some attention 38% 40% 35% 37% 39% 35% 35% 33%
Not much attention 26% 22% 29% 29% 32% 12% 27% 29%
None at all 16% 16% 17% 19% 12% 19% 15% 16%
Don’t know 4% 4% 5% 6% 4% 3% 3% 7%

16% say they pay a lot of attention to arrangements for retirement income and a further 38% say they pay some attention. 42% pay no or not much attention. This indicates a little more attention being paid to retirement income that when this question was asked in July.

Interest in retirement income increases with age – 31% of those aged 55+ are paying a lot of attention compared to just 9% of those aged 18-34.

Those on higher incomes also pay more attention to their retirement income – 62% of those earning $1,600+ pw are paying a lot or some attention compared to 36% of those earning under $600 pw.

Attention paid to retirement arrangements

Jul 22, 2014

Q. In general, how much attention do you pay to arrangements for your retirement income, such as your superannuation returns and fees, wealth management and other forms of long-term savings? 

 

Total

 

Men

Women

Aged

18-34

Aged

35-54

Aged 55+

 

Mar 14

A lot of attention

15%

14%

15%

4%

12%

31%

21%

Some attention

33%

36%

31%

28%

37%

35%

35%

Not much attention

29%

29%

29%

39%

30%

14%

27%

None at all

16%

14%

19%

20%

13%

16%

15%

Don’t know

7%

7%

7%

9%

8%

3%

3%

15% say they pay a lot of attention to arrangements for retirement income and a further 33% say they pay some attention. 45% pay no or not much attention.  This indicates somewhat less attention being paid to retirement income that when this question was asked in March.

Interest in retirement income increases with age – 31% of those aged 55+ are paying a lot of attention compared to just 4% of those aged 18-34.

Those on higher incomes also pay more attention to their retirement income – 54% of those earning $1,600+ pw are paying a lot or some attention compared to 42% of those earning under $600 pw.

Attention paid to retirement arrangements

Mar 18, 2014

Q. In general, how much attention do you pay to arrangements for your retirement income, such as your superannuation returns and fees, wealth management and other forms of long-term savings?

 

Total

 

Aged

18-34

Aged

35-54

Aged 55+

A lot of attention

21%

8%

20%

37%

Some attention

35%

30%

42%

29%

Not much attention

27%

35%

27%

15%

None at all

15%

21%

8%

16%

Don’t know

3%

5%

2%

2%

21% say they pay a lot of attention to arrangements for your retirement income and a further 35% say they pay some attention. 42% pay no or not much attention.

Interest in retirement income increases with age – 37% of those aged 55+ are paying a lot of attention compered to just 8% of those aged 18-34.

61% of men pay a lot/some attention compared to 51% of women.

Those on higher incomes also pay more attention to their retirement income – 63% of those earning $1,600+ pw are paying a lot or some attention compared to 39% of those earning under $600 pw.

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%).

Can simplifying super make it stronger?

Jun 19, 2012


Matt Linden believes the Government’s latest changes will make super simpler, accessible and more relevant for those who’ve taken their eye off the ball.

How much do you know about your super fund? Who is responsible for looking after your savings? Where and how is your money invested? Who runs the fund?

If you don’t know the answer to many of these questions, you’re not alone. While super is now the biggest asset after the family home, few take an active interest in how it is managed. Because super is compulsory and locked away until retirement, most of us assume it will be there when we need it and focus our financial attention on the here and now.

But Industry Super Network’s Matt Linden tells 3Q the Government’s new measures will make it easier for members to access and understand information about their account.

TRENDS: Trends with Peter Lewis

Jun 18, 2012


Peter Lewis dissects a survey which shows some alarming misconceptions about the nature of their own super.

Some recent polling by EMC shows that not only are people underestimating the amount of money they need to retire on, they also have no idea of how much they will have in reality.
However, there is one common factor. Peter Lewis tells 3Q that most people believe their super will not meet their expectations.