Retirees who rent ‘really struggling’ financially, researchers say – and the problem is getting worse Two-thirds of retirees in private rentals live in poverty, Grattan report finds, with more than half reporting net worth of less than $25,000.
“The report really identifies that while most retirees are doing pretty well – they’re actually more financially comfortable than many working-age Australians – it’s retirees who rent who are really struggling,” Coates said.
Two in three retirees who rent privately owned homes live in poverty and the problem will get worse, a new report has found.
Coates called on the government to lift commonwealth rent assistance, which supplements the age pension for less well-off retirees who rent.
Most older working Australians who rent do not have sufficient savings to keep paying rent in their retirement, according to the report from the Grattan Institute.
