White paper: retirees want more fund support with the age pension

A new white paper shows people are looking to their superannuation funds for help. The paper, Retirement Reality: Advice and the Age Pension, was published by Link Advice, an arm of the Link Group’s Retirement and Superannuation division. Almost four out of five retirees want support as soon as they are eligible, and of the thousand Australians aged 65-75 surveyed, 70 per cent want direct support from their super fund.

The paper examines preferences for accessibility and affordability for fund solutions to help people nearing retirement to apply for the age pension and avoid costly delays, as there is no backpay on the age pension once it is approved.

The white paper is calling on super funds to step in and provide the information and support that is currently missing, to ensure better outcomes for members.