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AP reliance to halve but gender gap to persist in 2060


AIST chief executive, Eva Scheerlinck, said: “As younger generations retire with greater superannuation savings, the total proportion of older Australians receiving the Age Pension will continue to decline. It is a very significant to see that the number retirees drawing a full-age pension is expected to halve by 2060”. 
Similarly, the Association of Superannuation Funds of Australia (ASFA) chief executive, Dr Martin Fahy, said: With more Australian retirees having higher super balances, the proportion of retirees reliant on the Age Pension will decline and ASFA expects half of all Australians to be self-funded in their retirement by 2050. 
Our strong superannuation system will allow Australia to lower the burden of the Age Pension from the current 2.7% of GDP to 2.1% in 2060-61 making it the lowest among our OECD peers.”  ....

Matt Linden , Eva Scheerlinck , Martin Fahy , Association Of Superannuation Funds Australia , Australian Institute Of Superannuation Trustees , Age Pension , Intergenerational Report , Australian Institute , Superannuation Trustees , Superannuation Funds , Super Australia , மேட் லிண்டன் , மார்டின் பஹி , சங்கம் ஆஃப் சுப்பெறன்ணுஅதிோன் நிதி ஆஸ்திரேலியா , ஆஸ்திரேலிய நிறுவனம் ஆஃப் சுப்பெறன்ணுஅதிோன் அறங்காவலர்கள் , வாழ்நாள் ஓய்வூதியம் , இடைநிலை அறிக்கை , ஆஸ்திரேலிய நிறுவனம் , சுப்பெறன்ணுஅதிோன் அறங்காவலர்கள் , சுப்பெறன்ணுஅதிோன் நிதி , அருமை ஆஸ்திரேலியா ,

Intergenerational report reinforces vital role of super in supporting Australia's rapidly ageing population


AIST
The Australian Institute of Superannuation Trustees (AIST) has today welcomed the release of the 2021 intergenerational report, which highlights the critical and pivotal role of compulsory superannuation in ensuring Australia is well placed to support its rapidly ageing population.
AIST CEO Eva Scheerlinck said the report was a ringing endorsement of our maturing super system and the legislated timetable to increase the compulsory super rate to 12% by 1 July, 2025.
“Treasury projections suggest that with 12 per cent super by 2025, the median superannuation balance at retirement will increase from around $125,000 in 2020-21 to around $460,000 in 2060-61 in today’s dollars. A super balance of this size will have huge impact on the future retirement outcomes of ordinary Australians who will benefit from greater financial security in retirement than the average retiree experiences today,” Ms Scheerlinck said. ....

Eva Scheerlinck , Service Pension , Australian Institute Of Superannuation Trustees , Australian Institute , Superannuation Trustees , Age Pension , சேவை ஓய்வூதியம் , ஆஸ்திரேலிய நிறுவனம் ஆஃப் சுப்பெறன்ணுஅதிோன் அறங்காவலர்கள் , ஆஸ்திரேலிய நிறுவனம் , சுப்பெறன்ணுஅதிோன் அறங்காவலர்கள் , வாழ்நாள் ஓய்வூதியம் ,