How much super do I need to retire?
The amount you’ll need in retirement will depend on the lifestyle you want
A rule of thumb is if you own your own home, you’ll need around 70% of your current annual income to maintain the same standard of living.1
Things to keep in mind
There are a few things to consider when assessing your future income needs.
How much super do I need?
It’s hard to know how much you’ll spend on a lifestyle you haven’t started living yet.
The ASFA Retirement Standard provides some guidance around how much the average Australian aged 65-84 would need each year to live a modest or comfortable lifestyle in retirement.
|
Comfortable lifestyle (homeowners) |
Modest lifestyle (homeowners) |
Modest lifestyle (renters) |
||||
| Single | Couple | Single | Couple | Single | Couple | |
| Income per year2 | $55,923 | $78,566 | $36,434 | $52,473 | $51,164 | $69,002 |
| Super balance required at age 673 | $630,000 | $730,000 | $110,000 | $120,000 | $340,000 | $385,000 |
ASFA describes a ‘modest’ lifestyle as one that allows you to cover life’s basics, like groceries, bills and transport. A ‘comfortable’ lifestyle lets you pursue your hobbies, take out private health insurance, buy a reasonable car and travel.
Wondering how much you’ll really need to live comfortably in retirement?
The Industry SuperFunds Retirement Calculator helps you estimate your future expenses based on the lifestyle you want. Whether it’s travel, hobbies, or everyday living, get a clear idea of your retirement costs so you can plan your income with confidence.
Start calculating
What if I don’t have enough?
If there is a gap between what you need and what you may have there are some strategies to help you fill it.
Contribute to super
There are a few ways to make extra contributions to your super to help you achieve a healthier super balance, and even save on tax.
Learn how to boost your super
Combine your super
Combining your super accounts could save you in fees and is a great way to help protect your hard-earned super.
Find and combine your super
Review how your super is invested
Your investments are there to do the heavy lifting when you’re no longer working. As you move closer to retirement, it’s important to assess whether your current investment choices, and your appetite for risk, will satisfy your needs in retirement.
Learn more about your investment options
Use your super to transition to retirement
You could dial down your working hours and keep the same income. A Transition to Retirement (TTR) Income account will allow you to draw an income from your super, while you continue to grow your retirement savings – and potentially minimise your tax too!
Discover our CareSuper TTR Income account
Get super advice
Retire your way with CareSuper
Are you retirement ready?
Disclaimer
2 Figures from ASFA Retirement Standard, March quarter 2026.
3 The ASFA Retirement Standard (accessed 15 June 2026) assumes that the retiree will draw down all their capital and receive a part Age Pension. All figures are in today’s dollars using 2.75% AWE as a deflator and an assumed investment earning rate of 6%. The lump sum estimates prepared by ASFA take into account the receipt of the Age Pension both immediately and into the future. The Age Pension is adjusted regularly by either the increase in the CPI or by a measure of wages growth, whichever is higher. The ASFA lump sum figures are therefore not updated quarterly (last updated February 2026).