On 2 October, Treasury released draft regulations to implement the 2018 federal budget announcement that the ability to make contributions would be extended for recent retirees. These are currently available for consultation (with the consultation period to end on 26 October) and, assuming no issues emerge, they would be expected to become law shortly thereafter and take effect, as planned, from 1 July 2019.

ING-commissioned research into the nation’s attitudes toward retirement has revealed Australians across all generations have a similar view to what a comfortable retirement would resemble.

The latest industry research into attitudes on retirement, conducted by Rice Warner and commissioned by ING Australia, has revealed individuals from generations X, Y and Z believe they will need between $1.5 million and $1.75 million in savings to fund their retirement, but do not know how to go about achieving it.