The ‘Silver Tsunami’ Will Test Australia’s Famed Retirement Program | Big Take
Experts have long held up Australia’s 32-year-old “superannuation” system as the retirement model to follow. But as countries all around the world are bracing for a “silver tsunami” of aging baby boomers, even Australians worry they don’t have enough saved.
Today, host Sarah Holder and Bloomberg’s Amy Bainbridge discuss what makes this system so super - and why it’s still falling short.
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Here is the definition The term “superannuation” was in common usage in the early 19th century to refer to the pension received after retirement from the former employer. In most other countries, the term “private pensions” tends to be used to describe what is known as superannuation in Australia.