Nick Bruining: Myth busted! Why Australia’s age pension system will outlive even you

Last week’s Intergenerational Report confirms the myth perpetuated by many involved in the sales of retirement investment solutions as being just that — a myth.

“You better take action now because by the time you reach retirement, there won’t be a pension”.

Garbage.

As Your Money has been saying for the past 20 years, Australia’s retirement income system isn’t ranked No.6 in the world without good reason.

The Mercer CFA Global pension index compares 44 retirement income systems worldwide, with Australia holding that spot for the second year in a row. The top three spots are held by Iceland, the Netherlands and Denmark — all countries where tax rates are arguably higher than Australia’s.

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