Explore the latest developments concerning Centrelink pensioner reveals.
Centrelink pensioner reveals sad daily change in $630 struggle as older Aussies face 'un-retirement'
More older Australians are having to stay in the workforce for longer than planned as cost of living concerns force them to push back retirement. It's a trend that is seeing more workers either missing out on a comfortable retirement or sacrificing their golden years.
Em Farr, 59, relies on a modest fixed income and says it's become increasingly impossible in the past year to live like she is used to. "I've really, really had to tighten everything, which I've never had to do in my whole life," she told Yahoo Finance.
Due to a medical condition she will rely on Centrelink in the years ahead, with little ability to work. But Farr thinks she will still need to find another source of income to give her some much-needed breathing room.
Under-retiring: The greatest retirement risk in a generation
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Retirement system ‘unfit’ as Australians live, work longer
Australia’s retirement system is failing to meet the expectations of people who are now living and working longer because it was built on assumptions from the 20th century, new research has warned, as the program faces rising pressure from an ageing population and piling public debt.
While the system ranks among the world’s best, behind only Norway, Ireland, the Netherlands, Switzerland and Denmark, Natixis Investment Managers’ latest study revealed 76% of Australians believe it is failing to keep pace with the needs that come with increasing life expectancy and longer working lives.
Prepared in collaboration with CoreData Research, Natixis said the research assessed retirement security across 44 countries using 18 indicators spanning finances in retirement, material wellbeing, health and quality of life.
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