MLC has launched the latest wave of its pioneering ‘Save Retirement’ campaign to drive a national conversation about how Australians can bridge the trillion dollar retirement savings gap and secure their future.
In recognition of the crucial role financial advisers’ play in building the wealth of Australians, MLC has developed a campaign targeted to advisers encouraging them to become retirement conservationists and help save their client’s retirement.
The adviser campaign is rolling out across national trade press, while a major national consumer advertising campaign will continue the call to save retirement across TV, print and digital channels.
Why we need to save retirement:
– One in two Australians are set to outlive their retirement savings by more than a decade (note 1);
– The average super balance for those aged 60-64 is $115,400 (note 2), despite a retiree today requiring at least $430,000 (note 3) for a comfortable retirement; and
– On average, 60% of our retirement income is generated after we retire (note 4).
NAB Wealth Group Executive Andrew Hagger said: “We’re committed to being the champions of retirement and partnering with Australians to secure their future.”
“Trusted and quality financial advice is critical to ensuring Australians live comfortably in retirement, and ensuring their savings grow with inflation, manage risk and remain tax efficient.
“We know people who receive formal financial advice save more than those who don’t, resulting in a $91,000 increase in their retirement savings at age 65 if they receive sound advice and plan early (note 5).
“Advisers are front and centre of the challenge to ensure Australians meet their financial goals and we’re proud of the role our advisers are playing in helping Australians to plan for and save their retirement.”
Notes:
1 December 2012 Retirement Income Report – Investment Trends
2 ASFA Retirement Standard December 2013
3 ASFA Retirement Standard December 2013
4 Wiley Finance 2009
5 Financial Services Council report 2011
