The "silver medal" Australia doesn't want
Tags: super, retirement, pensioner
Well this is scary…. A recent study found that Australia has the second highest level of pensioner poverty across all OECD countries!
Statista reported recently that across OECD countries, more than 12% of people aged 65 and over are currently living in relative income poverty. The worst – South Korea, where just under 50% of retirees are living in poverty. But shockingly, Australia is the second worst with 35.5% of people over 65 reported as living in relative poverty.
They have defined income poverty as an income that is below half the national median equivalised household income.
This is clearly not a position you want to be in when you hit your retirement. If you haven’t already, take action now and get started in your retirement planning – it is never too early. Contact an adviser from The Super Fund Co. for an obligation-free assessment.
https://www.statista.com/chart/4101/where-is-pensioner-poverty-the-most-prevalent/
