Funded by The Australian Research Council (Linkage Project)

Funding Amount: $399,459

Project start date: 2026

Researchers

  • Prof Nancy Pachana (CI), University of Queensland
  • Prof Prashant Bordia (CI), ANU
  • Prof Joanne Earl (CI), Macquarie University
  • Prof Marian Baird (CI), University of Sydney
  • Dr Jack Lam (CI), University of Melbourne
  • Dr Niklas Steffens (CI), University of Queensland
  • Prof Nicole Hartley (CI), University of Queensland
  • Prof Hannes Zacher (PI), University of Leipzig
  • Mr Benedict Davies (PI), UniSuper
  • Ms Niamh Nolan (PI), UniSuper
  • Mr Rodney Marmilic (PI), UniSuper

Project Description

Transitioning into retirement can be an exciting time in people’s lives. However, for some, closing the door on working life can be challenging, bringing financial stress, social isolation, or the loss of identity and purpose. This project aims to examine a broader, interconnected portfolio of resources – physical, financial, social, emotional, cognitive, and motivational – that retirees need to adjust and thrive. The project will generate new knowledge on client-centric metrics that measure the resources required to retire successfully. The outcomes of this project include a refined retirement planning tool, real-world cases studies and a sector roadmap to support Australians as they prepare for and transition into retirement.

National Interest Statement

This project will have significant social, economic and wellbeing benefits for individuals and the Australian community. Despite evidence linking retirement planning to positive psychological and financial outcomes, there are still 1 million people without a plan. Of those that do plan, many people leave the workforce too early, have insufficient funds or exit unexpectedly due to ill-health. The evidence points to the need for more holistic models of retirement planning – to take into account finance as well as physical, social, emotional, cognitive, and motivational considerations. Further, the federal Government has highlighted the importance of providing more support to navigate retirement, underscoring the need for comprehensive strategies that address the diverse needs of retirees. Our project will develop a suite of resources that supports a holistic approach to retirement planning – a refined retirement preparedness assessment tool, real-world case studies to support action, and a sector roadmap to drive broader uplift. Dissemination strategies will go beyond traditional academic channels, to include community engagement through the Council of the Ageing (COTA) and the Australian Association of Gerontology and industry engagement through presentation at the Financial Advice Association Australia Congress and Australian Superannuation Funds of Australia conferences.