This paper provides a longitudinal study of withdrawals from account-based pensions from superannuation savings to provide a better understanding of drawdown patterns in retirement. Our analysis of the data indicates that most retirees in their 60s and 70s draw down on their account-based pensions at modest rates, close to the minimum amounts each year. Indeed, if these drawdown rates were to continue, most retirees would die with substantial amounts unspent. These findings are consistent with empirical evidence to date that suggests retirees are inclined to draw down their wealth relatively slowly.
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