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Longitudinal Study: HILDA
Title: Retirement income adequacy – the impact of renting
Authors: Burnett, John 
Wilkinson, Nick 
Institution: Willis Towers Watson
Publication Date: 22-Oct-2018
Pages: 10
Abstract: While superannuation is often the second most significant asset for homeowners, it may well be the number one asset for renters. When measuring retirement income adequacy and setting target levels of income, it is important to allow for any rental payments required during retirement, as well as any Centrelink rent assistance. This also applies to homeowners if they still need to make mortgage repayments when they retire. This special issue of Super Outcomes looks at the latest HILDA retirement savings data, to assess the adequacy of expected retirement incomes for the 62% who are homeowners and the 38% who rent. We have projected the retirement incomes for each group (including superannuation, other savings and the age pension) which is then compared to both the ASFA Modest and Comfortable levels, to assess whether these levels are reached or not. Unsurprisingly, homeowners (as a group) are projected to have higher levels of retirement income adequacy than renters.
Keywords: Finance -- Superannuation contribution; Ageing -- Retirement; Housing
Research collection: Reports and technical papers
Appears in Collections:Reports

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