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Local News

Australians Pushing Retirement into Their 70s Amid Cost of Living Crisis

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Australians Pushing Retirement into Their 70s Amid Cost of Living Crisis

 

New research commissioned by Equip Super reveals that only a quarter (26%) of Australian workers plan to retire at 65, with many Australians pushing retirement to work longer due to financial pressures. On average, those delaying retirement are extending their working years by six, often pushing retirement into their 70s. Nearly four in ten (39%) cited the rising cost of living as the primary reason for this delay.

The research also highlights that 85% of Australians are becoming more cautious about their spending. Paul Stocker, Head of Advice at Equip Super, emphasised the importance of strategic financial planning in meeting retirement goals. “Coping with the escalating cost of living is a shared concern for many Australians. We understand the financial difficulties people encounter while planning for retirement, and we sympathise with those who are delaying retirement. By adopting strategic planning efforts, we aim to help Australians retire when they choose to, rather than when they are forced to.”

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“In times like these, it’s essential to have a solid financial plan in place, and managing your super is a crucial aspect of that plan,” said Mr. Stocker. “All Equip Super members have access to free general super advice at no additional cost as part of their membership. Members can also consult financial planners to design a comprehensive financial plan. These tools help navigate uncertain times, and alongside regular contributions to your Super account, a retirement plan provides confidence that you can meet your retirement goals, enabling a comfortable retirement at whatever age you decide.”

Survey respondents listed their current top financial priorities, with covering living costs and growing savings at the forefront, followed closely by mortgage repayments. The results also showed that three-quarters (75%) of Australians view their super as a crucial part of securing their financial future.

Diane Benham, a 70-year-old Sydney resident, shared her experience of delaying retirement. “I started working at 15, and now at 70, I am still working 20 hours a week. While our financial situation is generally stable, there are things we’d like to do when we retire, like travel. Delaying retirement wasn’t always part of my plan, but with expenses rising, it’s slightly worrying to think about life without an income. We just don’t know what’s around the corner. Although we’re fortunate to own our home, there are ongoing maintenance costs, and everything from shopping to car expenses keeps increasing. Every time you go to the shops, it seems to cost more money. When I finally decide to retire, it is essential that my superannuation provides me with a secure future, but also allows us to enjoy it.”

Mr. Stocker acknowledged the anxiety surrounding retirement savings in challenging economic times but urged individuals to seek expert advice to plan for a successful next chapter of their lives. “If people take the right steps today, they should not have to work longer than they want to,” he said.

Equip Super’s survey, which questioned over 2,000 Australians randomly selected across the nation, illustrates the financial pressures being felt by many households due to rising inflation, interest rates, and higher costs of living.

 

For more seniors news, click here.

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Local News

The Beauty of the Sugar Industry

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Harwood Sugar Mill Mural

The Beauty of the Sugar Industry

 

A recently completed mural at the entry to the 150-year-old Harwood Sugar Mill is stopping traffic and creating excitement in the little village with the oldest Australian owned sugar mill.

In the lead up to the 150-year celebrations, artist Nitsua, has created an artwork that reflects the blending of the cane growing and milling activities in the Northern Rivers, that exists thanks to the all-Australian partnership between the grower-owned NSW Sugar Milling Cooperative and family-owned Manildra Group.

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The artwork was commissioned by Sunshine Sugar as part of the preparations to celebrate the significant milestone of 150 years continuous manufacturing operation and Australian ownership – all on the same location on the bank of the mighty Clarence River.

As Sunshine Sugar CEO, Mr Chris Connors commented: “Not too many businesses in Australia can say they have achieved such a significant milestone, which is why we are making the effort to celebrate and promote the resilient industry we have here in NSW.”

Sunshine Sugar and the NSW sugar industry have a line-up of community events and activities happening at Harwood (near Yamba) in August. The celebrations with culminate in a massive outdoor community event to be held at the Harwood Cricket Oval on Sunday 25th August.

Find out more at: 150th Harwood Mill Landing Page – Sunshine Sugar

 

For more rural news, click here.

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Kyogle News

Services Australia’s Mobile Service Centre “Golden Wattle” to Visit Northern Rivers Region

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Golden Wattle

Services Australia’s Mobile Service Centre “Golden Wattle” to Visit Northern Rivers Region

 

Services Australia’s Mobile Service Centre, Golden Wattle, is set to visit towns in the Northern Rivers region of New South Wales, providing easy access to Centrelink, Medicare, National Disability Insurance Scheme, and Department of Veterans’ Affairs services.

Golden Wattle will visit:

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  • Nimbin: Wednesday, 17 July, opposite the neighbourhood centre, Cullen Street (9:30 am to 4:00 pm)
  • Urbenville: Thursday, 18 July, near Captain Cook Park, Urben Street (9:30 am to 3:30 pm)
  • Woodenbong: Friday, 19 July, in front of Woodenbong Hall, Unumgar Street (9:30 am to 4:00 pm)
  • Kyogle: Monday, 22 July and Tuesday, 23 July, in the Kyogle visitor centre car park, Summerland Way (9:00 am to 4:00 pm)
  • Bonalbo: Wednesday, 24 July, in front of Bonalbo Hall, Koreelah Street (9:30 am to 4:00 pm)
  • Tabulam: Thursday, 25 July, opposite the hotel, Court Street (9:30 am to 3:00 pm)

About Mobile Services Centres: Mobile Services Centres are 20-tonne trucks operated by Services Australia staff, providing regional and rural Australians with friendly, face-to-face service and tailored support. On this trip, staff can assist with:

  • Centrelink claims
  • Medicare registrations
  • Accessing online services

Additionally, information about the National Disability Insurance Scheme and Department of Veterans’ Affairs programs and support services will be available.

For more information, visit the Services Australia website.

 

For more local news, click here.

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Lismore News

Saffin Secures $30,000 Grant for Youth Crime Prevention

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Lismore MP Janelle Saffin with North-Tracks Works Chair Patrick Higgins, Secretary/board member Kevin Bell and Mr Bell’s working dog Maezzie. - Youth Crime Prevention

Saffin Secures $30,000 Grant for Youth Crime Prevention

 

Lismore MP Janelle Saffin has successfully secured a $30,000 grant for North-Tracks Works, a Lismore-based organisation dedicated to empowering vulnerable young people. This funding will enable the expansion of their life-changing programs to engage more youth in Goonellabah, Coraki, and Casino.

Ms. Saffin expressed her gratitude to NSW Minister for Police and Counter-terrorism Yasmin Catley for approving the grant following her advocacy on behalf of North-Tracks Works. She praised the organisation, which operates out of a shed in South Lismore, for its impactful work with young people aged 11 to 18, offering one-on-one support, mentoring, and practical learning opportunities.

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“I previously secured a $44,000 Local Small Commitments Allocation grant to help North-Tracks purchase equipment and materials for skill-building,” Ms. Saffin said. “This additional grant will allow North-Tracks to employ youth workers and expand their proven youth program, which is supported by Richmond Police District Commander Superintendent Scott Tanner.”

Patrick Higgins, Chair of North-Tracks Works and a local real estate agent, thanked Ms. Saffin for her efforts in securing the additional funding from Minister Catley. “We don’t fit in the box for normal funding. Our approach is about creating a sense of belonging and purpose through our skills program and training working dogs. It’s the work with the dogs that bridges the gap,” Mr. Higgins explained.

“At North-Tracks, we spend 10 percent looking back, 10 percent at where you are now, and 80 percent looking forward. We help them chase their dreams and goals,” he added. “Our team has three basic goals: keep them safe and alive, keep them out of jail, and help them move forward to live a full and productive life.”

This funding is set to sustain and expand North-Tracks Works’ impactful initiatives, providing more opportunities for at-risk youth to gain essential skills and find a sense of purpose and for Youth Crime Prevention.

 

For more local Lismore news, click here.

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