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Australian Boomers Retiring With Less Than Half the Money Needed

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Australian Boomers Retiring With Less Than Half the Money Needed


About two thirds of Australian baby boomers leaving the workforce don’t have enough pension savings to retire comfortably, according to research from the industry’s peak body.

Slightly more than 30% of Australians are able to afford a comfortable lifestyle in retirement, the Association of Superannuation Funds of Australia said. The median pension account balance for men aged 60-64 sat at A$205,385 ($137,690) as of June 2022 and A$153,685 for women the same age, a ways off the industry’s accepted comfortable retirement standard of A$690,000 for couples and A$595,000 for singles.



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