Savings in super - how much will you need?
Some research suggests retirees need about 70%¹ of their current take-home pay in retirement to maintain their accustomed lifestyle. This figure is a starting point, as the amount you need will vary based on your unique expenses and income. These numbers don't account for personal needs or circumstances, making it crucial to tailor the information to your situation by using a retirement income calculator and considering other contributing factors.
AFSA Retirement Standard suggests the necessary savings for a comfortable retirement* at age 67 are:
| Single $630,000 | Couple $730,000 |
*Refers to information published in the Association of Superannuation Funds of Australia Ltd (ASFA) Retirement Standard and is relevant as of May 2026.
Exploring other essential retirement factors
Understanding how much super you'll need extends beyond simple savings. Several factors will shape your retirement needs, including:
- Reduced expenses: Many retirees find that their overall expenses decrease once they settle debts and adjust to a new lifestyle.
- Additional income sources: You might supplement your super with the Government Age Pension or other benefits, adding a valuable income stream in your retirement years. You may also have savings outside of superannuation.
- Personal needs and circumstances: Essential considerations like healthcare expenses, your expected lifespan, and whether you own your home or rent all play critical roles in determining your financial requirements.
Using these tools, you can build a more accurate and personalised retirement plan:
- MoneySmart: Discover insights on adequate retirement savings and planning strategies.
- ASFA Retirement Standard: Break down the costs associated with various lifestyles in retirement.
- ASFA Retirement Calculator: Estimate how your current savings align with your future needs.
Plan your retirement finances with these insights in mind
Modest lifestyle*
This budget slightly surpasses the Age Pension, covering basic health insurance, occasional exercise and leisure, and social activities with family and friends. These figures assume that the retiree(s) own their own home and relate to expenditure by the household. It is assumed the retiree will draw down all their capital and receive a part Age Pension.
| Household | (per year) |
| Single | $33,503.00 |
| Couple | $51,299.00 |
Comfortable lifestyle*
This standard provides a good post-work life, covering essentials like groceries, transport, home repairs, top level private health insurance, various activities, and occasional dining out. It also supports regular connections with family and friends and periodic domestic and international trips.
| Household | (per year) |
| Single | $54,840.00 |
| Couple | $77,375.00 |
*The following refers to information published in the Association of Superannuation Funds of Australia Ltd (ASFA) Retirement Standard December 2025 quarter).
¹ Money in retirement - More than enough, Grattan Institute, November 2018 Pg 57.
