$50,000 needed for an adequate lifestyle in retirement

A recent survey has found that almost 50% of respondents in Australia were confident they would have enough superannuation in retirement. Respondents to the survey also said they would need about $50,000 a year to maintain an adquate lifestyle in retirement. Almost three-quarters, including retirees, said they were in favour of the government's policy of increasing compulsory super from 9% to 12%.