Australian retirees increase superannuation withdrawals amid inflation and global turmoil
Updated
Updated · Bloomberg · May 6
Australian retirees increase superannuation withdrawals amid inflation and global turmoil
10 articles · Updated · Bloomberg · May 6
At Colonial First State, requests from members without financial advisers for lump-sum withdrawals rose 55% in March from a year earlier.
The A$179 billion pension and wealth manager said withdrawals accelerated as the US-Iran conflict intensified and living-cost pressures mounted.
The trend points to weakening confidence among retirees, who are drawing more heavily on pension savings as economic and geopolitical uncertainty deepens.
As living costs soar, are retirees' super withdrawals a lifeline or a path to future poverty?
Early super access for health costs is booming. Are we solving today's health needs by creating a future poverty crisis?