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Superannuation shortfall fears: How anxiety over super is making our lives worse


Australians are increasingly anxious about not having enough superannuation to retire on with new research showing workers typically believe they will be $200,000 short.

AMP’s Financial Wellness report found 70 per cent of women were worried about insufficient retirement savings compared with 56 per cent of men.

Surging inflation and cost-of-living pressures are heightening retirement anxieties, leading to fears Aussies are ‘unnecessarily compromising quality of life’ in their later years.

AMP identified a ‘fear of running out’ phenomenon whereby Australians typically believed they needed $600,000 to retire on but only expected to have $400,000 saved up.

And the latest financial data shows the $200,000 gap is close to reality, based on super industry recommendations.

AMP's Financial Wellness report found 70 per cent of women (two women pictured at Royal Randwick Racecourse) were worried about insufficient retirement savings compared with 56 per cent of men

AMP’s Financial Wellness report found 70 per cent of women (two women pictured at Royal Randwick Racecourse) were worried about insufficient retirement savings compared with 56 per cent of men

The Association of…



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Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

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