Australia, like much of the rest of the developed world, has a problem: its population is getting older. As the number of retirees increasingly outnumbers those still working, funding for pensioners comes under growing pressure.
The solution, we are told, is self-funded retirement through superannuation. Contribution rates are increasing and young workers have plenty of time to build a nest-egg. But are they paying attention?
The Global Financial Crisis provides the opportunity to observe the reactions of individuals, to determine their engagement with superannuation.
This book looks at what people did as their investments crashed throughout 2008 and 2009. The results are a pulse-check for the superannuation system and offer an insight into the future success of retirement funding in Australia.