Just over 55 per cent of surveyed respondents believe they will rely wholly or in part on the Government Age Pension to provide retirement income, according to surveys by Equip.
Two surveys conducted by Equip found 40.7 per cent of pre-retirees were anxious about having enough income and savings to last their retirement.
According to the surveys, only a quarter of respondents felt confident about their retirement finances and thought they would have enough.
Equip's executive officer of strategic marketing and communications, Geoff Brooks, said the survey results showed why education and advice had become a vital component in the mix of services offered by super funds to their members.
"Over recent years, quality of communications and ready access to professional and personal advice is a big driver of confidence in the fund and in their future as investment returns and competitive fees," he said.
The surveys also found up to 40 per cent of respondents said they would consult a financial planner to help with their retirement finance and only one third did not feel the need for one.
BlackRock boss Larry Fink praised Australia’s superannuation system in his annual chairman’s letter.
The prudential regulator has announced it will publish new expenditure data of superannuation funds, providing details on expenses like advice, director remuneration, and payments to unions.
Affirming the UK’s growing attractiveness as an investment destination, a number of Australia’s largest investors recently joined the UK Foreign Secretary for an exclusive briefing in Canberra to discuss further opportunities for trade and growth.
The specialist superannuation law advisory practice is set to wind up, with managing partner Jonathan Steffanoni planning to bring a new offering to market.
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