How much super do I need to retire in Australia?

ASFA recommends $595,000 for a comfortable retirement for singles and $690,000 for couples (as of 2024). However, actual needs vary based on lifestyle, home ownership, and whether you qualify for Age Pension.

What is a safe drawdown rate in retirement?

The commonly cited '4% rule' suggests withdrawing 4% of your portfolio annually (adjusted for inflation). In Australia, with Age Pension providing a safety net, some advisers suggest 4-5% is sustainable. Higher rates increase the risk of running out of money.

How much is the Age Pension in Australia 2024?

From 20 March 2026, the maximum Age Pension is $1,201.40 per fortnight for singles ($31,236/year) and $1,811.20 combined for couples ($47,091/year), including all supplements. Payments are subject to income and asset tests.

When can I access my super in Australia?

You can access super from your preservation age (between 55-60 depending on birth year) once retired. From age 60, you can access it after leaving any job. At 65, there are no work restrictions.

Retirement Income Calculator Australia 2025 | Savings Duration | IntuitiveCalc

Retirement Income Calculator

Plan your retirement income by projecting how long your super and savings will last. Factor in Age Pension, investment returns, and inflation to see if you're on track.

Your Timeline

Current Age

Retire Age

Plan to Age

Your Savings

Superannuation Balance

Other Savings/Investments

Retirement Income Goal

Desired Annual Income (today's dollars)

ASFA comfortable retirement: $52,000 single, $73,000 couple

Age Pension Settings

Include Age Pension (Australian resident)

Homeowner (affects asset test)

Relationship Status

Assumptions

Expected Return (%)

Inflation (%)

Retirement Funding Status

On Track!

Your savings should support $50,000/year for 23 years

Key Numbers

Total at Retirement

$897,928

Money Lasts

24 years

Drawdown Rate

5.6%

Years in Retirement

Estimated Age Pension

$0/year

($0/fortnight)

Estimated based on assets. Actual amount depends on income and asset tests.

Annual Income Breakdown

From Savings/Super$50,000

Age Pension$0

Total Annual Income$50,000

Suggestions

•Warning: Drawdown rate above 5% may not be sustainable

ASFA Retirement Standard

The Association of Superannuation Funds of Australia (ASFA) defines comfortable and modest retirement incomes:

Lifestyle	Single	Couple	Includes
Modest	$32,417/yr	$46,620/yr	Basic needs, limited leisure
Comfortable	$52,085/yr	$73,337/yr	Good living, travel, hobbies

* March 2024 ASFA figures. Assumes home ownership.

Super Needed at 67 (Comfortable Retirement)

Single

$595,000

Combined with part Age Pension

Couple (combined)

$690,000

Combined with part Age Pension

Understanding Drawdown Rates

Your drawdown rate is the percentage of your portfolio you withdraw each year:

3-4%

Conservative

Likely to last 30+ years

4-5%

Moderate

Should last 25-30 years

5%+

Aggressive

Risk of running out

Age Pension — 20 March 2026 Indexation

Payment	Single	Couple (each)
Maximum fortnightly (inc. supplements)	$1,201.40	$905.60
Maximum annually	$31,236	$23,546 (each)
Combined (couple)	$1,811.20/fn · $47,091/yr
Pension age	67 years

Note: Age Pension is means-tested. Your payment may be reduced or nil depending on your assets and income.

Retirement Income Strategies

Before Retirement

• Maximize concessional super contributions ($30,000/yr FY 25-26, rising to $32,500 from 1 Jul 2026)
• Consider downsizer contributions if selling home
• Pay off mortgage before retiring
• Build an emergency fund outside super
• Consider transition to retirement (TTR) strategy

During Retirement

• Keep 1-2 years expenses in cash/term deposits
• Maintain some growth assets for longevity
• Review spending and drawdown annually
• Consider an account-based pension for tax benefits
• Apply for Age Pension when eligible

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