Cost of living squeezes retirement confidence, but Brighter Super members show resilience
12 November 2026
Australians are under financial pressure at every stage of the retirement journey, but those who get financial advice are feeling more prepared, according to the new Brighter Super and Investment Trends 2026 Retirement Income Report1.
The report shows a more positive retirement outlook among Brighter Super members. While the national score on the report’s Retirement Outlook Index fell to a new low of 49, Brighter Super's score rose from 60 to 63.
The Retirement Outlook Index measures retirement preparedness, confidence in having enough money and satisfaction with a super fund’s suitability for retirement2.
The report also found that 69% of Brighter Super retirees are living comfortably, compared with 38% nationally.
Why advice matters for retirement
The Brighter Super & Investment Trends 2026 Retirement Income Report shows that nationally, just 28% of pre-retirees feel prepared for retirement, a decade low. Among retirees, the proportion living comfortably fell from 58% to 38% in the past year, and confidence fell from 60% to 41%. Around three-quarters of both groups pointed to the cost of living.
However, the report found people who had received financial advice were considering a broader range of options to secure their retirement. Among pre-retirees expecting an income shortfall, those who had received financial advice were more likely to consider extra super contributions and downsizing, alongside spending less or retiring later.
Financial advice was also associated with contributing more to super, while higher super balances were associated with greater comfort and confidence in retirement.
Key insights from the report
- Super balance matters: 91% of retirees with more than $750,000 in super are living comfortably, compared with 57% of those with $250,000–$500,000 and 22% of those with less than $100,000.
- Advice is associated with better outcomes: Pre-retirees who received financial advice were almost twice as likely to feel prepared as those not open to advice (43% versus 22%), and more than twice as likely to be contributing more to super (37% versus 15%).
Advised retirees were more likely to be living comfortably (57% versus 31%).
While financial resources and personal circumstances would have influenced these results, the findings reinforce the importance of financial advice before and throughout retirement.
- Many go it alone: 55% of retirees received no guidance before retiring.
Knowledge gaps remain
Almost three in 10 pre-retirees (29%) don't know what they will do with their super when they retire, and 62% are unaware or unsure of the tax advantages offered by retirement income accounts.
Among retirees not using a retirement income solution, such as a Brighter Super Pension account, 43% said they did not know enough to make a decision.
More than half of pre-retirees (54%) expect their retirement income to fall short of what they need, and cutting spending is now their most common plan to close the gap (49%, up from 21%).
Many Australians expect their retirement income to fall short, but the good news is that obtaining guidance can open up more options than simply spending less.
Confidence rising among Brighter Super retirees
Almost two-thirds (64%) of Brighter Super retirees feel confident they can fund their retirement, up from 54% in 2025 and higher than the national result of 41%.
This result supports/reinforces the importance of Brighter Super’s commitment to providing advice and support to all our members in preparation for, and during, their retirement.
Brighter Super’s commitment to preparing members for, and supporting members in retirement has been recognised with the Epic Retirement Tick for the second year in a row.
Brighter Super was one of eight funds to receive the 2026/27 Epic Retirement Tick, following an assessment of 45 APRA-regulated super funds.
Read more about this award
Advice at every stage
Our Brighter Advice Pathway brings together education, Super and Retirement Health Checks and personalised advice, so you can start small and build from there.
About the report
1. The Brighter Super & Investment Trends 2026 Retirement Income Report is based on a survey of 4,007 Australians aged 40 and over, including 1,665 retirees, conducted by Investment Trends in August and September 2026.
2. The Retirement Outlook Index combines the proportion of pre-retirees who feel prepared for retirement, the proportion of retirees who feel confident they have enough to fund retirement, and satisfaction with a super fund's overall suitability for retirement.
3. A fee from $500 applies for each additional service, such as advice on consolidating super accounts or including a non-Brighter Super member.
4. The Zenith CW Pty Ltd ABN 20 639 121 403 AFSL 226872/AFS Rep No. 1280401 (Chant West) Epic Retirement Tick issued 1 October 2026 is solely a statement of opinion and not a recommendation in relation to making any investment decisions. The Tick is current for 12 months and subject to change at any time without notice. Ticks from previous years are for historical purposes only. Liability is not accepted, whether direct or indirect, from use of the Tick. Full details on the Tick at www.chantwest.com.au/solutions/epic-retirement-tick/
Brighter Super Trustee (ABN 94 085 088 484) (AFSL 230511) (the Trustee) as trustee for Brighter Super (ABN 23 053 121 564) (RSE R1000160) (the Fund). Brighter Super may refer to the Trustee or the Fund as the context may be. Brighter Super products are issued by the Trustee on behalf of the Fund.
You should obtain and consider the Product Disclosure Statement (PDS) and Target Market Determination (TMD) before making any decision to acquire any products. A TMD is a document that outlines the target market a product has been designed for. Find the PDSs and TMDs at brightersuper.com.au/pds-and-guides.
This article provides general advice only and does not take into account your individual objectives, financial situation or needs. As such, you should consider whether it is appropriate in light of your own objectives, financial situation and needs prior to making any decision. You should consult a licensed financial adviser if you require advice which does take into account your personal financial circumstances.
