Retirement in Australia is a well-regulated system that promotes saving for retirement through mandatory superannuation contributions. Employees are required by law to contribute 9.5% of their income to their super fund, and employers must match this contribution. This setup ensures that most Australians have the means to fund their retirement, with the median super balance for those aged 55-64 being around $240,000.

Retirees in Australia can also access government benefits, such as the Age Pension, which is paid to eligible residents over the age of 65 who meet income and asset tests. There are also various tax concessions available to retirees, such as tax breaks on income earned from superannuation and exemptions from certain types of taxes, which can help stretch retirement savings further.

Overall, with a good mix of mandatory superannuation contributions, government benefits, and tax concessions, retirement in Australia is generally viewed as a manageable and sustainable part of life.

Permanent residency in Australia is a status granted to non-citizens that enables them to live and work in the country indefinitely. It is a pathway to Australian citizenship and comes with several benefits, including access to government-funded health care, education, and social security payments.

Applicants can apply for permanent residency through a skilled migration visa, family sponsorship visa, or a humanitarian visa. The process can be complex and require meeting certain criteria, including age, skills, language proficiency, character, and health standards.

Once obtained, permanent residents have the right to travel in and out of Australia as often as they desire and can also sponsor eligible relatives to migrate to Australia. However, they are expected to obey the country’s laws and customs and may lose their status if they break any laws. Overall, permanent residency in Australia is a highly sought-after status for those looking to live and work in the country long-term.