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Generation X retirement income concern grows

Australians aged between 30 and 49 are taking a more active interest in their superannuation and attaining adequate retirement income, according to the latest MLC Wealth Sentiment Survey.

The survey of 2,000 Australians conducted by the NAB-aligned wealth group found that both men and women in this age bracket “rated their concern about having adequate funds for retirement at 73 per cent”.

People over 50 as well as 18-29 year-olds had an equal level of concern at 64 per cent, the survey found.

“We’re delighted to see superannuation starting to hit a nerve with the younger 30-49 year-old group and hopefully this concern leads to greater action,” said MLC general manager Lara Bourguignon.

“Most Australians are inadequately prepared for retirement, which is why we recently launched the Let’s Save Retirement campaign to educate and encourage Australians to take control of their financial futures.”