More than half of Australians fear they won't have enough money to fund their retirement, a survey shows.
But it's not all bad news.
The latest quarterly Wealth Sentiment Survey by National Australia Bank's wealth management partner MLC shows there's been an improvement in people's confidence in their retirement savings.
Thirty-two per cent of the 2,000-plus respondents said they expect to have enough to retire on, compared to 19 per cent a year ago.
NAB client management general manager Lara Bourguignon said it was an encouraging sign.
"While it is great to see confidence rising, more than half of those surveyed are still concerned they do not have enough to fund their retirement," she said.
"This highlights that more work needs to be done across the board."
On a state by state basis, NSW had the greatest portion of people who were confident in their retirement savings, followed by Victoria.
Investors from capital cities also were more active in super, cash or term deposits, direct shares and property than those from rural areas.
While more women than men were anxious about not having enough retirement funds, they did less forward planning.
And a larger proportion of women (53 per cent) held debt compared with men (45 per cent).
The majority of respondents expect to retire between the ages of 65 and 69, while only six per cent believe they may not be ready until after 75.
STATE BREAKDOWN OF THOSE CONFIDENT IN RETIREMENT SAVINGS:
* 37 per cent from NSW
* 32 per cent from Vic
* 30 per cent from Qld
* 25 per cent from WA
* 21 per cent from TAS
* 19 per cent from SA
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