Our research sought to explore the variations in retirement income, contributing factors to financial inequality and the growing disparity of those reliant on government income support and those living on superannuation and investment income. The data collected tells a story of a two-tier level of retirement, of a deepening gap between the comparatively well off and relatively poor older Australians.
This disparity is highlighted within the report, with the level of financial security determining the freedom to spend their income on enjoying activities or the need to focus on necessities such as food and accommodation expenses. The report explores the broader ability of households to transfer wealth to other generations and raises concerns about the long term structural inter-generational inequalities that result from this.
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