We're delaying major life events, and our retirement income system hasn't caught up
- Written by Rafal Chomik, Senior Research Fellow, ARC Centre of Excellence in Population Ageing Research (CEPAR), UNSW
Asked to conduct an independent review of Australia’s retirement income system, the panel appointed by treasurer Josh Frydenberg reported on Friday that it was all tied up with the family home[1].
At every age range, Australians have more money saved through home ownership than they do through superannuation or anything else, much more:
References
- ^ all tied up with the family home (www.treasury.gov.au)
- ^ Retirement Income Review consultation paper, November 22, 2019 (www.treasury.gov.au)
- ^ consultation paper (www.treasury.gov.au)
- ^ Fall in ageing Australians' home-ownership rates looms as seismic shock for housing policy (theconversation.com)
- ^ ARC Centre of Excellence in Population Ageing Research (www.cepar.edu.au)
- ^ Source: CEPAR Research Brief ’Housing in an Ageing Australia: Nest and nest egg?’ (www.cepar.edu.au)
- ^ The edges of home ownership are becoming porous. It's no longer a one-way street (theconversation.com)
- ^ A$6 billion (www.theaustralian.com.au)
- ^ statistic (www.smh.com.au)
- ^ Source: CEPAR Research Brief ’Housing in an Ageing Australia: Nest and nest egg?’ (www.cepar.edu.au)
- ^ Generation Share: why more older Australians are living in share houses (theconversation.com)
- ^ review of the retirement income system (www.treasury.gov.au)
Authors: Rafal Chomik, Senior Research Fellow, ARC Centre of Excellence in Population Ageing Research (CEPAR), UNSW