How much super do I need to retire comfortably in Australia?
The short answer: around $595,000 for a single person and $690,000 combined for a couple — but only if you'll also receive a part Age Pension. If you want to be fully self-funded, the number is significantly higher. Here's exactly how to work it out for your situation.
What does "comfortable" actually mean?
"Comfortable" isn't just a feeling — it has a precise dollar value in Australia. The Association of Superannuation Funds of Australia (ASFA) publishes the Retirement Standard each quarter, defining what different retirement lifestyles actually cost for people aged 65–85 who own their home outright.
Comfortable Lifestyle
Includes private health insurance, a good car, annual holidays, dining out regularly.
Modest Lifestyle
Covers basic essentials. Better than the Age Pension alone, but limited leisure.
Notice the gap. A comfortable lifestyle costs about 55% more than a modest one. That difference — roughly $18,671 per year for a single person — is what separates occasional overseas trips and a decent car from a very restricted retirement.
The lump sum you need at retirement
ASFA estimates the super balance required at age 67 (the Age Pension eligibility age) to fund a comfortable retirement for around 25 years:
| Lifestyle | Single | Couple (combined) |
|---|---|---|
| Comfortable | ~$595,000 | ~$690,000 |
| Modest | ~$100,000 | ~$100,000 |
These figures assume you own your home outright and will receive a part Age Pension. Renters in retirement need significantly more — add roughly $200,000–$350,000 to account for ongoing rent costs.
The modest lifestyle target is low because it relies heavily on the full Age Pension. The comfortable standard assumes a partial pension — most Australians with $595,000 in super will still receive some pension under the assets test.
The Age Pension: your built-in supplement
Many Australians underestimate how much the Age Pension reduces the super balance they need. In 2024-25, the full Age Pension is worth:
Full Age Pension — Single
$29,024/yr
$1116.30 per fortnight
Full Age Pension — Couple
$43,753/yr
$1682.80 per fortnight combined
A single person needing $51,805/yr already gets $29,024/yr from the Age Pension if eligible — meaning their super only needs to cover the $22,781/yr gap. That's why the ASFA target of ~$595,000 is achievable for many Australians.
Eligibility is subject to an assets test and income test. At $595,000 in super (plus a modest home), a single person would typically receive a partial Age Pension — not the full amount, but still a meaningful supplement.
Are you on track? Super benchmarks by age
These are indicative targets for someone aiming for a comfortable retirement at 67, including an expected part Age Pension. They assume a 7% annual return and ongoing employer SG contributions at 11.5% on an average salary.
Don't panic if you're behind — super compounds significantly in the final decade, and salary sacrifice can close gaps faster than most people expect.
| Age | Single target | Couple target |
|---|---|---|
| Age 30 | $55,000 | $90,000 |
| Age 35 | $100,000 | $165,000 |
| Age 40 | $165,000 | $270,000 |
| Age 45 | $255,000 | $415,000 |
| Age 50 | $375,000 | $605,000 |
| Age 55 | $510,000 | $820,000 |
| Age 60 | $640,000 | $1,020,000 |
| Age 65 | $770,000 | $1,220,000 |
Couple figures are combined super across both partners. Individual balances may differ — what matters is the total. Spouse contribution strategies can even balances to minimise tax.
What changes your number?
The $595,000 figure is a useful starting point, but several factors push it higher or lower:
You don't own your home
Renters need $200,000–$350,000 more in super to cover ongoing rent. Home ownership is the single biggest variable.
You plan to retire earlier (before 67)
Every year before 67 means one more year of drawing down and one less year receiving the Age Pension. Retiring at 60 vs 67 can require $200,000–$400,000 more in super.
You expect a longer life
Funding 30 years in retirement (to age 97) vs 20 years meaningfully changes the required balance. Australian women live to an average of 87; consider 90–95 to be safe.
Your investment returns are higher
Moving from a balanced fund (7% p.a.) to a growth fund (8.5% p.a.) meaningfully lowers the balance needed, and can make a big difference on a 30-year horizon.
You have other income sources
Investment property income, dividends, or part-time work in early retirement can reduce what you need in super. Model all sources together.
You receive a full Age Pension
If your assets are low enough for the full Age Pension, your super needs to cover far less. A couple both on full Age Pension receives $43,753/yr without drawing on super at all.
How to close the gap
If your balance is behind the benchmarks above, the most effective levers available to most Australians are:
Salary sacrifice — the most tax-effective move
Redirecting pre-tax salary into super is taxed at just 15% rather than your marginal rate (up to 45%). The concessional cap for 2024-25 is $30,000/year including your employer's SG contributions. The tax saving alone compounds powerfully over time.
After-tax contributions (non-concessional)
You can contribute up to $120,000 per year from after-tax money — or up to $360,000 in a single year using the bring-forward rule if your super balance is under $1.9M. No extra tax applies inside the fund on these amounts.
Catch-up contributions
If your Total Super Balance is under $500,000 on 30 June of the prior year, you can carry forward unused concessional cap space from the last five years and contribute a larger lump sum — ideal if you've had career breaks or recently increased your income.
Choose a higher-growth investment option
Most Australians are in a balanced fund. For someone 20+ years from retirement, a growth or high-growth option has historically delivered better long-term returns — despite short-term volatility. Even 1% more per year compounding over 20 years makes a six-figure difference.
Downsizer contribution (age 55+)
If you sell your home, you can contribute up to $300,000 each (or $600,000 per couple) into super from the proceeds — outside the normal contribution caps. This is one of the most significant super top-up strategies available for Australians in their 60s.
Get your personal number
The figures in this article are benchmarks — useful to orient yourself, but your actual number depends on your salary, super balance today, investment option, partner's income, assets, and the lifestyle you want.
All figures based on 2024-25 ATO rates and ASFA Retirement Standard. This article is general information only and does not constitute personal financial advice. Consult a licensed financial adviser for advice specific to your circumstances.