Rice Warner’s Market Insights team collaborated with its client, a leading wealth management division of a big four Australian bank, to create an annual research project that not only leverages our unique market data, but helped to expose some common myths about the nature of retirement in Australia.
A common misconception casts Australian retirees as having a strong preference for lump sum payouts over a future income stream. The belief being that retirees spend their superannuation savings on material goods and overseas trips, and then apply to receive a full Age Pension. This is commonly known as ‘double dipping’. But is this actually the case?