Industry fund Intrust Super's latest survey results show that there is a big disconnect between what people are worried about in terms of superannuation savings, and their plans to correct the perceived deficit.
Over 1,700 people were surveyed regarding their superannuation situation and plans, with 71 per cent saying they did not think they would have enough to live comfortably in retirement. Most people were worried that they wouldn't have enough money in retirement, but 72 per cent of those surveyed were still not making personal contributions. Thirty-two per cent said they would never do so.
When quizzed on what was stopping people from making plans to save for their retirement, 40 per cent said they wanted to make extra contributions but weren't doing so currently, while the 80 per cent who would consider extra contributions thought they could not afford to.
Overall, people said thier reasons for not putting more money away were that they couldn't afford to make extra contributions, do not have the time to invest in arranging these contributions, or thought the process was too hard.