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95% of Australians will retire on less than $23,000 per annum |
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Over 90% of us fail to plan for our retirement |
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Only 5 - 8 % achieves financial independence |
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The average retirement income in Australia is $1,917 per month while household expenses average $1,437 a month. |
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The pension age has been increased from 65 years to 67 years. What next? |
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More than a quarter of all Australians over 65 have an income below the OECD poverty threshold. |
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Two-thirds of retirees rely on the pension as their main source of income. |
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More than a third of retirees return to work due to financial needs. |
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The age pension in Australia is one of the lowest in the developed world when compared with national average earnings (New Zealand's basic pension is worth 80% more). |
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The age pension is currently $18,228.60 per year for a single person and $27,482 for a couple. |
