{"id":1904,"date":"2023-04-12T23:43:59","date_gmt":"2023-04-12T23:43:59","guid":{"rendered":"https:\/\/blog.villages.com.au\/?p=1904"},"modified":"2023-04-13T00:54:16","modified_gmt":"2023-04-13T00:54:16","slug":"how-many-australians-are-retiring-every-day","status":"publish","type":"post","link":"https:\/\/blog.villages.com.au\/money\/how-many-australians-are-retiring-every-day\/","title":{"rendered":"How many Australians are retiring every day?"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1904\" class=\"elementor elementor-1904\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2dac035 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2dac035\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bb174c5\" data-id=\"bb174c5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1af5208 elementor-drop-cap-yes elementor-drop-cap-view-stacked elementor-widget elementor-widget-text-editor\" data-id=\"1af5208\" data-element_type=\"widget\" data-settings=\"{&quot;drop_cap&quot;:&quot;yes&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.15.0 - 20-08-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p>8<strong>00<\/strong> <strong>Australians are due to retire every day for the next decade, giving them access to a whopping $1.5 trillion in superannuation.<\/strong><\/p><p>The Financial Services Council (FSC) believes the Baby Boomers will not spend all their super and save some for their kids. Such action only adds to the growing fire for superannuation to be taxed one way or another.<\/p><p><strong>Research by NMG Consulting on behalf of the FSC shows retirees in Australia are currently drawing down 17% less income in retirement from their super \u201cthan what is optimal\u201d.<\/strong><\/p><p><strong>FSC chief executive Blake Briggs wrote in The Australian that policy reforms focused on improving how Australians spend their superannuation savings would boost retirement incomes by 10% each year or by $397 billion by 2050.<\/strong><\/p><p>He said changes to regulations and legislation needed to be made to simplify how the superannuation system interacted with other parts of the retirement system, including the aged pension, aged care and health care.<\/p><p>The research points out this could include redesigning pension means test rules to \u201cencourage higher consumption of capital\u201d.<\/p><blockquote><p>It also recommends addressing the \u201cinteraction of major policy levers on retirement spending behaviour including tax policies, especially around inheritance and gifting, home equity release options and aged and disability care\u201d.<\/p><\/blockquote>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>800 Australians are due to retire every day for the next decade, giving them access to a whopping $1.5 trillion in superannuation. The Financial Services Council (FSC) believes the Baby Boomers will not spend all their super and save some for their kids. Such action&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"_mi_skip_tracking":false,"footnotes":""},"categories":[71],"tags":[77,95],"class_list":["post-1904","post","type-post","status-publish","format-standard","hentry","category-money","tag-financial-advice","tag-tips"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts\/1904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/comments?post=1904"}],"version-history":[{"count":11,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts\/1904\/revisions"}],"predecessor-version":[{"id":1930,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/posts\/1904\/revisions\/1930"}],"wp:attachment":[{"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/media?parent=1904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/categories?post=1904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.villages.com.au/blog\/wp-json\/wp\/v2\/tags?post=1904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}