ASFA develops new retirement standard for over 90s

The Association of Superannuation Funds of Australia (ASFA) has dsigned a new retirementĀ conventional for Australians aged 90-95 to give a clearer picture of required expenditure for this age group.

The existing ASFA retirement standard is targeted on the spending requirements for those aged around 70 who are in relatively good health for their age and reside in their owner-occupied home.

ASFA chief executive Pauline Vamos said the ASFA Retirement Standard for Older Retirees will offer the government with a better indication of the spending magnitude and behavior of older retirees.

News Source: http://goo.gl/XpNQuS