Provided by Mercer: 8/10/08
Recent financial market turmoil has left employees uncertain whether they can afford to retire, Mercer’s 2008 Benefits Outside the Square Study has found.
Mercer’s study of 600 working Australians and 150 employers, found that more than 40 per cent of employees aged 50 and over are unsure how much they will need in retirement, and one in four expect to delay retirement until their 70s.
“For many baby boomers, the impact of recent stock market declines on their superannuation savings means that traditional retirement is not an option - they just can’t afford to stop working altogether,” David Anderson, Asia Pacific Business Leader of Mercer’s outsourcing business, said.
“Instead, they’re looking to their employers for practical help in preparing for and transitioning to retirement – and that means facilitating financial advice and education as well as flexible working arrangements. It's no longer enough for employers to just pay a salary and provide traditional benefits,” he said.
To find out more, download the study findings below (2.39MB)
2008 Benefits Outside the Square study
More information
Download previous issues of Benefits Outside the Square below.
2005 Benefits Outside the Square study
2001 Benefits Outside the Square study
Read full Media Release
For queries about the study, please contact:
Elyssia Silberstein
Research Manager Australia/New Zealand - Mercer
T: 03 9623 5981
E: elyssia.silberstein@mercer.com
For media enquiries, please contact:
Megan Burges
Media and Communications Consultant - Mercer
T: 03 9623 5754
E: megan.burges@mercer.com
This information has been prepared by Mercer (Australia) Pty Ltd ABN 32 005 315 917 for general information only. The information does not take into account your personal objectives, financial situation or needs. Therefore, you should not act on this information if you have not considered the appropriateness of this information to your personal objectives, financial situation and needs. You should consult a licensed or appropriately authorised financial adviser before making any investment decision.
