Media Releases

2 March 2020

Anti-retirement groups condemn future Australian retirees to reliance on a welfare state

In a report on Australians’ retirement aspirations the Grattan Institute has told Australians to lower their retirement expectations.

Responding to the anti-retirement group’s argument, ASFA CEO Dr Martin Fahy said “Grattan want a welfare state where 70-80% of Australians will be relying on a government funded age pension, public health system and a benevolent age care system. They are offering Australians a bleak retirement where they are older and sicker for longer, when we know people want to be younger and healthier for longer.

“This vision of retirement is one where everyone over the age of 75 sits at home watching daytime tv, waiting for a public hospital bed. We know that these outdated characterisations of retirement are at odds with what people want. People are active and motivated in retirement and they want to have choices. They don’t want their grandparents’ retirement.

“The development of retirement policy needs to recognise and support the changing landscape where more and more Australians are working longer, living longer, and staying active longer.”

“A Jansenite model of retirement where the few are destined for a dignified retirement and the working classes are condemned to the Age Pension has no place in modern Australia,” concluded Dr Fahy.

For further information, please contact:
Jacqui Maddock, 0451 949 300.

About ASFA
ASFA is the peak policy, research and advocacy body for Australia’s superannuation industry. It is a not-for-profit, sector-neutral, and non-party political, national organisation. ASFA’s mission is to continuously improve the superannuation system, so all Australians can enjoy a comfortable and dignified retirement.