Bridge the Gap

How prepared are you and your employees for retirement?

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Don’t let your retirement planning fall through the cracks

How prepared are you for retirement? How do you compare to your peers? To find out, Rest commissioned research into how well prepared small-to-medium enterprise (SME) owners are for retirement, and how this compares and contrasts to the attitudes of their employees.

Our research^ reveals that while Australian entrepreneurs* provide employment, income and financial security for 68%1 of Australians, they are typically less worried about their own financial security, with one in five SME businesses unable to support their owner’s livelihood and living expenses for more than a week in the event of their unplanned absence.

And because we know one of the most pressing concerns facing SME owners is their ability to attract and retain staff, we set out to find how SME owners and managers can utilise superannuation to help increase the employer value proposition.

1 Parliament of Australia – Statistical Snapshot: small business employment contribution and workplace
arrangements – 2 December 2015

Here’s what our research
told us

research 1

55% of SME owners surveyed consider
the sale of their business important to
the funding of their retirement

One in five SME owners surveyed believe
their business could not survive for a week
in the event of their unplanned absence

Only 32% of SME owners surveyed
consider superannuation to be critical
in their retirement

82% of SME owners surveyed believe
it is the responsibility of their
employees to choose the fund that
is right for them

Four in five permanent employees
surveyed regard an additional employer
contribution to salary as very attractive

Three in four employees surveyed find their
employer paying for income protection,
total and permanent disablement (TPD)
and life insurance cover within
superannuation to be attractive

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