From www.moneymag.com.au: Many Australians are hesitant to draw down their superannuation savings due to fears of running out of money in retirement, according to a report from the Grattan Institute.

The report recommends that retirees be encouraged to invest 80% of their super balances above $250,000 into lifetime annuities to provide a guaranteed income stream, arguing this could help alleviate uncertainty and ensure retirees manage their resources more effectively.