Detangling Drawdown: for Super Consumers Australia
Susan Bell Research conducted a large scale mixed methods qualitative and quantitative research project for Super Consumers Australia.
The research was conducted with people aged between 65 and 83.
- Super Consumers Australia commissioned the research to understand how this generation of retirees actually make their decisions.
- The organisation wants to help retirees make optimal drawdown decisions so they spend what they are able to, while avoiding the under-spend and over-spend risks at different stages of their lives.
The research results:
- Retirees were drawing down the minimum stipulated by government because that was all they needed, or were following advice
- People over 65 with inactive super accounts are not all the same – some do not need the money, some might work again
- People over 67 have accounts in accumulation mode because they are still working
- Few people in this age group understood the tax benefits of pensions
Super Consumers Australia summarised the results in their blog and used the insights in their advocacy.
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