Originally published: Medianet, 27 August 2024
Cost-of-living pressures over the past 12 months have prompted more young Australians to take action regarding planning for retirement, according to research conducted on behalf of HESTA[1].
The national survey of 1,000 Australians asked respondents what cost-of-living pressures over the past 12 months had caused them to do, finding that 49 per cent of 18 to 39-year-olds had taken more action to plan for their retirement, such as salary sacrificing or using online calculators to understand if their super was on track.
This compared to 44 per cent of 40 to 54-year-olds and 29 per cent of 55-plus respondents who said they had taken more action to plan for retirement.
[1] The research by Pureprofile took place between 8-12 March 2024 with a sample of 1000 people across Australia resembling population by gender, age, state, and location.
