Business
Retirees ignoring potential of dipping into home equity: income review – Sydney Morning Herald
Cash-poor retirees living in expensive properties are not tapping into their housing equity to fund their older years.
But a separate analysis by the Australian Council of Trade Unions warns nurses, teachers and retail staff could be left working into their 70s if the superannuation guarantee rise is delayed.
The retirement review found keeping the superannuation guarantee at 9.5 per cent, but using voluntary savings more efficiently, would allow most retirees to achieve 65 to 75 per cent income replacement rates.
“Most would also achieve higher replacement rates than with the superannuation guarantee at 12 per…
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