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Cost-of-living is now the biggest concern for retirement, according to 43 per cent of Australians.
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Retirement plans are being delayed by an average of six years and many are adjusting their super contributions.
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Australians who have adopted a retirement plan express confidence about taking control and retiring with more superannuation.
Melbourne, 2 February 2026: Australians are delaying retirement and reducing super contributions as rising living costs and economic uncertainty put pressure on household finances, new research from Equip Super shows.
The survey findings, part of Equip Super’s Financial Security Index, reveal that many Australians are rethinking their timelines for leaving the workforce, with the average expected retirement age now pushed back by more than six years.
While 21% of respondents said they had reduced super contributions in the past year, more than one in 10 have increased contributions, suggesting that while many are tightening their budgets, some Australians are taking proactive steps to strengthen their retirement savings.
When it comes to retirement concerns, cost-of-living pressures topped the list (43%), followed by insufficient super savings (25%) and healthcare affordability (18%). Confidence in the broader economy also remains weak, with only one in five Australians feeling more optimistic than 12 months ago.
The Index surveyed a nationally representative sample of more than 2,000 Australians, to understand how attitudes toward financial confidence, behaviour and retirement planning are evolving amid ongoing cost-of-living pressures.
Equip Super Chief Experience Officer Carrie Norman said the findings underline the pressures Australians are facing.
“Many Australians are feeling the impact of higher living costs and changing economic conditions,” she said. “While the environment is challenging, there are still positive, practical steps people can take, from reviewing their investment mix to accessing financial advice or support to help them make informed decisions and feel more confident about the future.”
“Taking manageable actions, even small ones, can make a meaningful difference over time and help people stay confident and connected to their long-term retirement goals.”
The findings also show that Australians are highly engaged in their retirement planning, with many taking active steps to stay informed about their financial futures. Nearly half (45%) said they have reviewed their superannuation or retirement plan in the past year.
More than half (52%) said they want additional support or guidance to help them make confident financial decisions, highlighting a strong appetite for advice and tools that make planning easier and more accessible.
Retired couple found clarity by planning ahead
For Duncan and Julie McLean, who live in Townsville, leading into retirement this year came with a mix of uncertainty and big decisions. They wanted a clearer view of what life after work would actually look like.
“The scary part was not really knowing what our income would be or how long it would last,” Julie said. “Once we sat down and worked through it properly, it was a huge relief to understand where we stood.”
The McLeans say getting advice from their super fund helped them map out their retirement income, understand how their super and Centrelink would interact, and make decisions in a way that felt structured and manageable.
“In hindsight, we wish we’d done it a couple of years earlier,” Duncan said. “If you’re coming up to retirement, don’t wait until the last minute. Even a few years out, talking it through helps you plan properly and makes the transition a lot smoother.”
Carrie Norman said the McLeans’ experience reflects what the Index is showing nationally: early planning can materially lift retirement confidence.
“We are seeing more members come to us for retirement planning and advice,” Ms Norman said. “Some members are adjusting contributions, others are deferring retirement, but the common theme is Australians are taking stock and making decisions that help them regain a sense of control and confidence in their retirement. That willingness to engage is encouraging.”
“While people are realistic about the challenges, they’re also focused on making informed choices and taking practical steps to protect their future. With the right planning and advice, most members' concerns about their retirement can be addressed.”
ENDS
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About Equip Super
Equip Super manages $36.9 billion for over 135,000 members across both Equip Super and Catholic Super at 30 June 2025. Equip Super is a leader in the superannuation industry in bringing funds together through successful successor fund transfers and continues to look for new opportunities to grow the fund.
Under two distinct brands, Equip Super and Catholic Super service employers and members from the energy, resources, water, infrastructure, manufacturing, education, health, legal and services sectors. Equip Super is an industry super fund, operating accumulation, defined benefit and pension plans. The fund’s key objective is to deliver the best retirement outcome possible for members, while operating as a trusted partner for participating employers.
Equipping members today, so they’re ready for tomorrow.
Issued by: Togethr Trustees Pty Ltd (ABN 64 006 964 049, AFSL 246383) the trustee of Equipsuper (ABN 33 813 823 017) (“Equip Super”). This is general information only and does not take into account your personal investment objectives, financial situation or needs. Please read the appropriate Product Disclosure Statement (PDS) and Target Market Determination (TMD) before making an investment decision. Investment returns are not guaranteed and past performance is not a reliable indicator of future performance. Financial advice services may be provided to members by the trustee’s related entity Togethr Financial Planning Pty Ltd (ABN 84 124 491 078; AFSL 455010).
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