New survey shows one in four workers over 50 don’t believe they’ll ever retire


One in four people in the workforce over the age of 50 don’t believe they will ever retire – but it’s evenly split whether they’re working for love or money, The Sydney Morning Herald reports.

A nationally representative survey of 2830 Australians aged over 50 found financial insecurity was a key reason; 36 percent of those who don’t expect to retire rated their finances below five out of 10.

However, the same proportion of people rated their finances 7 or more, suggesting that not wanting to retire is not purely a financial decision.

Stella Avramopoulos, chief executive of female-focused charity Good Shepherd, told the SMH that older women were likely to be among those wanting to work for financial reasons.

Stella Avramopoulos, chief executive of female-focused charity Good Shepherd.

READ MORE: Tony Papagiannopoulos was scammed out of $200,000 after googling his investment options.

Women’s superannuation balances were on average 40 percent lower than men because of structural inequalities, older women were the fastest growing group of homeless people and women had borne the brunt of job losses during the pandemic, she said.

“We need to ensure retirement isn’t a pipedream for younger women by working towards super parity,” Ms Avramopoulos told the SMH.

The study was conducted by Newgate Research for the COTA Federation (Councils on the Ageing) and an overview of findings will be published in the State of the (Older) Nation 2021 report.

Source: Sydney Morning Herald.




By subscribing you accept our Terms of Service and Privacy Policy.


Latest News

Cypriot communities across Australia and NZ gather for 51st Annual Conference

On Friday, May 24, the Federation of Cyprus Communities and Organizations of Australia and NZ officially inaugurated its 51st Annual Conference following a four-year...

Three generations of Pontians raise funds to preserve their ‘second home’ in Sydney

Three generations of proud Pontians supported Pontoxeniteas NSW's 'Winter Wonderland Fundraising Gala' for its 45-year-old Pontian House.

6th Annual Breakfast for Brain Cancer in Sydney: A morning of hope and progress

The White Pearl Foundation hosted its 6th Annual Breakfast for Brain Cancer in Sydney in support of The Brain Cancer Group.

Melbourne’s Greek community gathers to commemorate the Battle of Crete

Melbourne's Greek community gathered at events over the weekend to commemorate the 83rd anniversary of the Battle of Crete.

International conference brings Darwin to Greece and the world

The 4th International Conference on the Hellenic Diaspora begins on May 31 at Charles Darwin University’s (CDU) Casuarina campus.

You May Also Like

SYRIZA party leader Alexis Tsipras resigns

SYRIZA leader Alexis Tsipras announced his resignation on Thursday after the party suffered a crushing defeat in Greece's two elections.

Greek Australian twins named on Subway Joeys squad ahead of Italy camp

Two Greek Australians have been named on Subway Joeys squad and will head to Italy for an intensive two-week camp.

A-League pitch invader Alex Agelopoulos appeals jail sentence

Alex Agelopoulos, also known as the A-League “bucket man,” is seeking to overturn his three-month jail sentence.