How much super do you need to retire in Australia?

Australians often ask, "how big does my super need to be before I can retire?" There's no single answer, but the Association of Superannuation Funds of Australia (ASFA) publishes useful benchmarks updated each quarter.

ASFA models two budgets for retirees who own their home outright: a "modest" lifestyle and a "comfortable" one. The comfortable benchmark assumes occasional travel, eating out, private health insurance and reliable transport.

Most retirees draw down on their super while topping up with the Age Pension once they qualify. A balanced super fund earning ~6% net of fees can support 25–30 years of withdrawals from a $600,000 starting balance at the ASFA comfortable rate.

• Salary sacrifice — taxed at 15% inside super, generally lower than your marginal rate
• Personal deductible contributions — claim a deduction at tax time
• Spouse contributions — earn an offset
• Government co-contribution — for low-income earners

Use our Superannuation Calculator and Retirement Calculator together. The first projects your balance at retirement age based on your contributions and returns; the second tells you how long that balance will last given your target income.