Gen X falls behind on retirement planning but are most intentional

Yasmine Raso

Senior Journalist, Financial Newswire

13 March 2026

New research from Equip Super has revealed that while Generation X (those aged 45 to 60 years old) are the least-prepared cohort when it comes to planning for retirement, they – at the same time – are the most intentional to create a financial plan.

As part of the super fund’s Financial Security Index, the research found only 46 per cent of the 2,000 Australians surveyed are heading towards retirement with a plan in place and only 37 per cent of Generation X had signalled their preparedness.

And while 41 per cent of Generation X respondents said they intended to create a financial plan, which was the highest number recorded across all generational cohorts, 22 per cent said they don’t intend to. The super fund said these results indicated a “clear divide” between those actively engaging with a retirement plan and those “whose good intentions may not translate into action”.

According to the survey, those with a plan for retirement were more confident than those without, expected to retire at an average of three years earlier ((63 years old compared to 66) and implemented higher savings goals ($2.1 million compared to $1.6 million).

“Planning is one of the most effective ways Australians can improve their retirement outcomes,” Equip Super Chief Experience Officer, Carrie Norman, said.

“We often hear from members that once they take that first step, they feel more confident and in control. A plan can adjust approaches to savings, investments and superannuation, focusing on enabling the best retirement outcomes.

“We’re focused on helping members understand the value of early planning and making that process clearer and more achievable through the right tools, advice and support.”

The survey also found that many Australians had put off planning for retirement due to uncertainty, with less than half of the respondents indicating they had started planning and 20 per cent confirming they would worry about planning later. The super fund flagged some concerns over this reluctance particularly among respondents aged in their 40s and 50s, who still have some time yet but “risk missing out on the benefits of early action”.

“You don’t need to have everything figured out. Even small actions like checking your super balance, exploring your investment options, or using a calculator to set a starting goal, can help build confidence and clarity,” Norman said.

“We understand that planning for the future can feel overwhelming, especially if you’re unsure where to begin. That’s why we focus on practical tools, personalised guidance and making the first step feel achievable, no matter what stage you’re at.”