Thanks to super, Australia’s savings record is fine
A study by the Reserve Bank of Australia shows our savings rate has more than doubled in the past decade, a finding that contradicts other research. The study found that Australians saved 24 per cent of their annual disposable income in 2005, after taking into account managed funds, equities and superannuation. Under the traditional measure of saving (consumption minus disposable income) Australians have spent more than they earned in the past three years. On this measure, savings have fallen from 15 per cent of disposable income in 1990 to minus five per cent today.