We present two new metrics to assess the adequacy of retirement savings and estimate these metrics for a representative sample of the Australian population aged 40 to 64. Our estimates support t he widely held belief that most individuals are not dn track' to achieve a comfortable standard of living in retirement, although couples appear better prepared than singles. We also estimate the relative expected contributions of the various -pillars-of retirement income. The metrics presented here may provide a better way to communicate adequacy to individuals, and encourage increased saving. An earlier version of this paper was presented to the 2013 Australian Centre for Financial Studies' Melbourne Money and Finance Conference.
|Number of pages||8|
|Journal||JASSA: The Finsia Journal of Applied Finance|
|Publication status||Published - 2013|