Dave Woodall
New research from one of Australia’s largest super funds, MLC, shows retirement confidence is already shaping how Australians experience work today, with implications for wellbeing, productivity and workforce dynamics.
Findings from the MLC Employer Real Retirement Report highlight that only 31% of Australians believe they will be able to retire when they want to, demonstrating a growing gap between expectations and preparedness.
The Report also found that financial confidence is influencing how employees show up at work. Nearly two-thirds of Australians (65%) say their financial situation affects their health and mental wellbeing, while 16% say it directly interferes with their job performance. The findings reinforce the important role employers can play in supporting employee wellbeing, and the impact of financial stress in the workplace.
Financial confidence is also uneven across the workforce, with women and low-income earners reporting lower levels of confidence in meeting their financial needs in retirement, highlighting the risk of uneven outcomes across workforces if left unaddressed.
The Report also reveals shifting expectations around financial wellbeing, with 84% of Australians believing that employers should provide access to free or subsidised financial advice.
Dave Woodall, CEO of MLC Super, said the Report’s findings showed retirement confidence is built across a person’s working life, not just at the end of it, and the increasing expectations employees have for their employer to provide greater access to financial support.
“Over recent years, it’s become clear that retirement confidence doesn’t sit neatly at the end of a career, it’s built over a working life. And when confidence is missing, the effects start to surface in how people feel, engage and make decisions about work,” said Mr Woodall.
“For employees, that framing matters. It shapes how supported they feel at work today, and whether they believe their employer is thinking beyond the immediate. It also speaks to the broader employee value proposition (EVP), where financial confidence plays a quieter but meaningful role alongside more visible signs of support.
“We hope the MLC Employer Real Retirement Report helps Australian employers build on the important work many are already doing to support employee wellbeing.”
