Retirement income

Australians intend to work longer

Australians are retiring later, in keeping with the continuing trend to stay in the workforce for longer, new data shows.

The Australian Bureau of Statistics (ABS) said that on average in 2016-17, around 13 per cent of people aged 45 years and over were intending to continue in the workforce until they were 65, up from a decade ago when nine per cent of Australians said they would retire at 63.

“This is consistent with the continuing trend of people staying in the workforce for longer,” the ABS’s Bruce Hockman said.

Downsizing off agenda for 40 percent of seniors

Home is where the heart is, and for more than 40 per cent of older Australians, it determines where they live in retirement.

National Seniors’ new research report reveals that while many Australians consider downsizing to a smaller house when they retire, a substantial proportion of older homeowners rule it out because they don’t want to leave their house, neighbourhood and community.

Retirement funding on agenda for Albury seniors

National Seniors Australia is coming to Albury to help older people improve their knowledge about how to better fund their retirement.

Basil La Brooy, from National Seniors Financial Information Desk, will present a seminar next Wednesday, 8 November, for those thinking of giving up paid work and people who are already retired.

Australia third in world retirement income rankings

Australia has the world’s third best retirement income system, a new global study has found.

Denmark claimed the top spot for the sixth consecutive year, the Netherlands was ranked in second place, followed by Australia.

The index is based on research to assess the public and private pension systems of 30 countries, collectively representing 60 per cent of the world’s population.

In 2017, New Zealand, Colombia and Norway were included in the index for the first time.

CBA abolishes reverse mortgage fee

National Seniors Australia has welcomed the Commonwealth Bank’s announcement earlier this week that it is removing monthly account fees for thousands of seniors who unlock the equity in their home after retirement.

Commonwealth Bank customers who have the Equity Unlock for Seniors (EQFS) loan will have their monthly account fee of $12 removed, effective immediately.

Boost your financial knowledge at a NSW seminar

It’s still not too late for National Seniors members who live in Sydney to register for two seminars aimed at helping boost their knowledge about how to better fund their retirement.

The Sydney seminars are on Monday, 30 October. Another seminar will also be held in Albury on Wednesday, 8 November.

National Seniors Financial Information Desk Senior Officer Basil La Brooy will be presenting information aimed at helping people understand their own situation and resources.

Win tickets to self-managed super fund event

National Seniors has 30 tickets to the Self-Managed Super Fund in Focus event to be held in Sydney on 30 October.

Hosted by the Self-Managed Super Fund Association, the event will be held between 9am and 4pm at the Aerial UTS Function Centre, UTS Building 10, Level 7, 235 Jones St, Ultimo.

The event is designed for SMSF trustees to ensure they are up to date with their obligations.

It will help trustees to: 

Learn how to better fund your retirement

New South Wales members of National Seniors can ramp up their financial knowledge at two seminars in Sydney on Monday, 30 October, and one in Albury on 8 November.

National Seniors Financial Information Desk senior officer Basil La Brooy will be presenting information aimed at helping people understand their own situation and resources.

Topics include opportunities for those who will be fully self-funded in retirement, Government Income Support (GIS) and equity release products.

A Q&A session will follow the presentations.

Learn how to better fund your retirement

New South Wales members of National Seniors can ramp up their financial knowledge at two seminars in Sydney on Monday, 30 October, and one in Albury on 8 November.

National Seniors Financial Information Desk senior officer Basil La Brooy will be presenting information aimed at helping people understand their own situation and resources.

Topics include opportunities for those who will be fully self-funded in retirement, Government Income Support (GIS) and equity release products.

A Q&A session will follow the presentations.

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