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Superannuation gap: are Australian migrants risking their retirements?

 an elderly man in a retirement home

File photo dated 18/05/17 of an elderly man in a retirement home Source: Press Association

Australians from non-English speaking backgrounds are being encouraged to look closely at their superannuation because they are likely to have lower balances than other Australians. The Association for Superannuation Funds says, to retire with a comfortable lifestyle, a couple needs about $640,000 in super -- assuming they own their home and are mortgage-free. But many people, particularly those of non-English speaking backgrounds, are far from that.


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By Ricardo Goncalves

Presented by Sarka Pechova

Source: SBS




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Australians from non-English speaking backgrounds are being encouraged to look closely at their superannuation because they are likely to have lower balances than other Australians. The Association for Superannuation Funds says, to retire with a comfortable lifestyle, a couple needs about $640,000 in super -- assuming they own their home and are mortgage-free. But many people, particularly those of non-English speaking backgrounds, are far from that.



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