A “silver tsunami” will hit Australia over the next decade, but needlessly complex rules will hamper the retirement outcomes for these Australians.

A new report commissioned by the Super Members Council calls for advice changes to be fast tracked as too many older Australians miss out on an average $6500 a year.

When added up, these Australians will lose over $136,000 over their lifetime.

According to the report, these older Australians are not benefiting from superannuation and pension benefits and are actually paying more in taxes than they should be.

The call to urgently simplify these rules or help Australians get financial advice comes as the

dubbed “silver tsunami” of 2.8 million people leave the workforce over the next decade.

Super Members Council Misha Schubert said addressi

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