The country’s biggest superannuation funds are driving members to take far more speculative and risky bets with their pension savings amid increasing unease with how they have prepared older workers for retirement.
That’s the finding from a comprehensive review by CoreData, an advisory firm widely used by the superannuation sector, and Conexus Financial, which found expectations for the money required to retire comfortably had neared $1 million.
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Lucas Baird is a journalist based in The Australian Financial Review's Sydney office. Connect with Lucas on Twitter. Email Lucas at lucas.baird@afr.com