
Twenty-three per cent of Aussies delay retirement due to Covid-19, says Colonial First State
The Australian Prudential Regulation Authority (APRA) has estimated that a whopping $30 billion has been taken from superannuation accounts as a result of the Covid-19 pandemic. Whether Aussies are choosing to do this willing or because of little choice, it’s not painting a pretty picture for retirement. New research from Colonial First State has revealed that 23% of Aussies between the age of 30-65 believe they will have to delay retirement and work longer due to the pandemic. Almost half (45%) of respondents also confessed to either feeling scared or not financially confident about retiring. “The Coronavirus pandemic has significantly changed the world, not only socially but financially too. These are extremely challenging times for many people,” said Colonial First State’s general manager, Kelly Power.
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