RETP076 The Pillars of Retirement Income (626 words)

This article explores the "Three Pillars of Retirement Income," encompassing the age pension, compulsory superannuation, and voluntary savings. With many retirees unaware of these potential income sources, we delve into each pillar's significance and how they can work together to secure a stable financial future during retirement.

While older Australians are reportedly among the wealthiest retirees in the world, much of their wealth is tied up in their family home, leaving many to worry about how they will find the money to pay for their day-to-day expenses when they stop work.

During the past two decades, Australians have been able to rely on the so-called ‘Three Pillars of Retirement Funding’. These include the age pension funded by the Federal Government, compulsory superannuation and voluntary savings.