Almost 4.2 million Australian workers do not believe they will be able to stop working when they want, as concerns over superannuation adequacy and rising living costs reshape retirement expectations, new Finder research has found.
A survey of 757 employed Australians found that 17 per cent believe they will never have enough money to retire, while another 12 per cent expect to continue working part-time beyond their planned retirement age to make ends meet.
Superannuation falls short of expectations
The findings point to growing concerns over whether superannuation will provide Australians with the lifestyle they expect after leaving the workforce.
Almost one in four respondents, or 24 per cent, believe their superannuation will cover only the bare necessities in retirement. Another 32 per cent expect to be able to travel occasionally but say they will still need to watch every dollar.
Only 16 per cent believe they will have enough superannuation to travel the world and enjoy retirement with few financial limitations.
Richard Whitten, money expert at Finder said, “A significant number of Australians are expecting retirement to be about getting by, not living well,” he said.
“Instead of picturing years of freedom after decades of work, many are bracing for a longer working life or resetting expectations of what retirement will look like.”
Workers reassess retirement plans
Whitten said, “Retirement might feel like a long way off, but the sooner you start paying attention to your super, the more room you have to build your balance before you need it,” he said.
“Simple steps like comparing super funds, consolidating multiple accounts, reviewing your investment option and making extra contributions can add tens or even hundreds of thousands of dollars to your balance by the time you retire.”
The findings come as retirement planning remains closely linked to financial security for Australian workers. Australian Bureau of Statistics data shows the average age at which people aged 45 and over intend to retire is 65.6 years, while 156,000 people in that age group retired during 2024-25.
Rising costs add pressure
Whitten said, “Rising living costs only make retirement more expensive. Australians can’t afford to neglect their super while they’re working.”
“Retirement isn’t only about leaving the workforce, it’s about having the freedom to spend time with the people you love, travel, chase your interests and enjoy what you’ve worked hard to build.
“Taking a few minutes each year to review your super could mean the difference between simply surviving and genuinely enjoying your retirement.”
The research suggests that for a significant share of Australian workers, retirement is increasingly being viewed not only as an end to employment, but as a financial question that could determine how long they remain in the workforce.
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