Retirement

Financial planners are advising Australians to diversify out of property and put more money into superannuation, as statistics show falling asset values contributing to a nearly $500 billion decline in household wealth for the June quarter.

Sentiment around retirement prospects is declining across the board in Australia, with millionaires almost as likely as less affluent investors to believe it would take a miracle to retire securely. Recent reports highlight the correlation between the new economic uncertainty and reduced confidence in a comfortable retirement.

The institution has entered the post-Retirement Income Covenant market race with an out-of-the-box hybrid offering that may well attract a swathe of retirees.