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Gloom forces many to delay retirement
Gloom forces many to delay retirement

OLDER Australians are delaying their retirement and switching to more conservative investments amid global economic uncertainty, a report finds.

The report, by the Australian National University and Seniors Australia, found that seniors are still concerned about their superannuation investments.

Of the 3500 seniors surveyed, about one-third of superannuants said they had changed their superannuation investments since the start of the global financial crisis.

The majority of those who changed investments shifted to cash or conservative asset classes.

Almost half of the respondents say they delayed, or intend to delay, their retirement to protect themselves financially.

Couples with greater wealth and who own their home outright were considerably more likely to not delay retirement.

Superannuation Minister Bill Shorten, who launched the report, said the government should develop policies that would allow Australians to live a "century of life full of quality and meaning".