Superannuation

Unfortunately, there’s no single answer to this question. The amount of super you need when you retire depends on many things, from how long you live to how well you live.

However, to help give you an idea of the amount of money you might need when you stop working, you could try out our superannuation planning calculators. You can enter your current balance and contributions to the Retirement income calculator and see a projection of the estimated annual retirement income you could receive once you stop working.

The Association of Superannuation Funds of Australia (ASFA)^ Retirement Standard has also been designed to help singles and couples determine the kind of lifestyle they want in retirement.

^ASFA is not a financial adviser. You should consider seeking independent legal, financial or taxation advice to check how the calculator relates to your individual circumstances.

For most people, it will be when you stop (or wind down) paid work, including when you: 

• Reach your preservation age (between 55 and 60, depending on when you were born) and retire
• Turn 60 and stop working for an employer
• Turn 65.

You may be allowed to access your super early under certain circumstances. Read Accessing your super for more information. 
 

The Government places limits on how much you can contribute to super each year. The limits depend on your total super balance and whether you’ve already paid tax on the money you are contributing.  

Head over to our super contribution limits page to learn more.