Middle Australia on track for 'comfortable retirement': ASFABY ANDREW MCKEAN | TUESDAY, 17 JUN 2025 12:07PMThanks to a subtle shift in superannuation policy, a 30-year-old Australian earning the median wage is, for the first time, on the path to achieve a comfortable retirement, according to the Association of Superannuation Funds of Australia (ASFA). Related News |
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Hugh Killen
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Sadly, more people "on track for a comfortable retirement" can only mean greater increases to the cost of living. Nothing has changed. Only by doing MORE than what most people are doing to save for the future, can anyone expect to have a higher standard of living in retirement than others who are relying on the minimum standard. This article ignores the reality that the cost of goods and services are always determined as much by what the customers can afford to pay as they are by the cost of production. Prices will inevitably increase to cancel out the benefit of increases to the minimum retirement savings. Taxpayer funded pensions will therefore remain a large factor in future Govt budgets to defend those on the minimum standard (whatever level it has reached) from falling further behind.