Most Australians run out of super by the end of their lives: study

Two-thirds of retirees are drawing more money from their superannuation funds than they are required to and 80 per cent of men and 90 per cent of women have none left when they reach life expectancy age, countering claims that Australians are not spending their nest eggs.

The new research from the Super Members Council of Australia comes as the government considers how to make super funds better assist their customers in retirement amid concerns they are living frugally despite ample savings.