How much super will you need for retirement?
Whether you can live comfortably during your retirement years comes down to how well you've planned and prepared throughout your working life. But no matter your age or super balance, we can help.
How do you want to live when you retire?
There are times where we all think about what we'll do when we leave the workforce. Where do I want to live? How do I want to live? Which activities do I want to be able to do? And then comes the final question, "How will I pay for this?"
According to the Association of Superannuation Funds of Australia’s Retirement Standard, to have a ‘comfortable’ retirement, single people will need $53,289 in retirement income, and couples will need $75,3191. A 'modest' lifestyle will cost considerably less but involve more concessions.
1 ASFA Retirement Standard, for retirees aged 65-84, as at June quarter 2025.
What you need for a modest or comfortable lifestyle
| Comfortable lifestyle | Modest lifestyle | Modest lifestyle (renters) | Age Pension (including supplements) | |
| Single (per year) | $53,289 | $34,522 | $49,044 | $30,646 |
| Couple combined (per year) | $75,319 | $49,992 | $66,296 | $46,202 |
See what you could get if you rely solely on the Age Pension for retirement income.
Budgets for various households and living standards for those aged 65 - 84. Both budgets assume retirees own their own home and are relatively healthy. The modest lifestyle (renters) budget assumes retirees are renting. As per ASFA Retirement Standard as at June quarter 2025 and for illustrative purposes only.
What you could afford with each lifestyle
| Comfortable lifestyle | Modest lifestyle | Modest lifestyle (renters) | Age Pension | |
| Health and insurance | Top level private health insurance, doctor/specialist visits, pharmacy needs | Basic private health insurance, limited gap payments | Basic private health insurance, limited gap payments | No private health insurance |
| Home utilities | Fast reliable NBN, computer and iPhone with good data allowance/streaming services Confidence to use air conditioning in the home, afford all utilities | Fast reliable NBN, computer and android mobile, modest mobile internet data allowance Need to keep a close watch on all utility costs and make sacrifices | Fast reliable NBN, computer and android mobile, modest mobile internet data allowance Need to keep a close watch on all utility costs and make sacrifices | Very basic mobile and limited internet connectivity Limited budget for home heating in winter |
| Transport | Own a reasonable car, car insurance and maintenance/upkeep | Owning a cheaper, older, more basic car | Owning a cheaper, older, more basic car | Limited budget to own, maintain or repair a car |
| Leisure | Regular leisure activities including club membership, cinema visits, exhibitions, dance/yoga classes Occasional restaurant meals, home-delivery meals, take-away coffee | Infrequent leisure activities, occasional trip to the cinema Limited meals out at inexpensive restaurants, infrequent home-delivery or take-away | Infrequent leisure activities, occasional trip to the cinema Limited meals out at inexpensive restaurants, infrequent home-delivery or take-away | Rare trips to the cinema Only local club special meals or inexpensive take-away |
| Home maintenance | Home repairs, updates and maintenance to kitchen and bathroom appliances over 20 years | Limited budget for home repairs, household appliances | Modest one or two bedroom apartment in a middle to outer ring suburb | Struggle to pay for repairs, such as leaky roofs or major plumbing problem |
| Travel and holidays | Annual domestic trip to visit family, one overseas trip every seven years | Annual domestic trip or a few short breaks | Annual domestic trip or a few short breaks | Occasional short break or day trip in your own city |
Retiring on the Age Pension
On the Age Pension, you'll generally need to live a more financially restricted lifestyle. While you'll be able to meet basic needs, you'll need to be much more frugal with many of your expenses such as home utilities, health expenses and leisure activities.
Learn more about the Age Pension
Planning ahead is critical
No matter how old you are or what your super balance currently is, it's important to sit down and think about your goals for retirement. Planning properly, and planning as early as you can, is key to achieving your retirement lifestyle goals.
If you need advice on setting retirement lifestyle goals, or on how to set yourself up to fund those goals, help and resources are available.
Use our retirement income calculator
Use our calculator to find out how much super you're likely to have when you retire.
Try the retirement income calculator
Make additional contributions to your super
If you want to make sure your super will adequately fund your retirement lifestyle, you can give it a boost by voluntarily making additional contributions before you retire.
Learn more about making additional super contributions.
Advice Services for members
Call and speak with an adviser today. It’s at no additional cost and our advisers can help you understand your options, what you need to consider before making any changes and provide a personal recommendation on topics like which investment option to choose, super contributions or starting a Super Income Stream.