How much does a couple need to retire?

Ideally, a couple in Australia right now would need around $730,000 in super and other investments to retire comfortably, or around $120,000 to retire modestly along with the Age Pension, assuming you own your own home, and you have no major health concerns.

How much super do I need to retire at 60 or 65?

Generally, retiring at age 60 may require a larger super balance compared to retiring at age 65, as you will need to fund a longer retirement period. Using our Hitting the Target retirement calculator can help you work out how much super you need per year based on your retirement goals.

Is $800,000 enough to retire at 65 in Australia?

Yes. Looking at the ASFA Retirement Standard, a couple needs approx. $730,000 for a comfortable retirement along with the Age Pension ($630,000 for singles), given they own their home and are of reasonable health.

What happens if you have no superannuation?

If you have little or no super to retire on, then your primary source of income is likely to be the Age Pension (unless you have other investments outside of super). If you are eligible, you can only access the Age Pension when you reach 67 years of age, and the current maximum basic rate is around $1100.30 per fortnight for an individual and around $1658.80 per fortnight (combined) for most couples.

How much super do I need to retire comfortably?

From modest to comfortable, see how much super you’ll need to do retirement your way.

Consider some of the factors that generally affect retirement planning in Australia like where you live, how you wish to live, when you’ll retire, as well as any other potential expenses or income sources after retirement.

For example, how much super you need to retire at 60 will be different from how much super you need to retire at 65. This is because the earlier you retire, the longer your super may need to last, especially if this will be your only income source. If you’ll continue to pay rent or mortgage after retirement, you’ll also need to account for that when you calculate super at retirement.

Here are some ways to work it out.

How much super do I need to save for retirement?

According to The Association of Superannuation Funds of Australia (ASFA), two-thirds of your current income (or 67%) is a general rule of thumb to maintain your lifestyle in retirement, assuming you own your home and are in reasonable health. You’re likely to need less money than you need now because when you retire, you’re not paying tax on your income or making super contributions, and you might have paid off your mortgage and other debt.

The ASFA retirement standard has a handy breakdown of expenses for a comfortable and modest retirement lifestyle (assuming you are getting the Age pension) and an estimate of the income needed to achieve this.

Superannuation balances required to achieve a comfortable retirement at age 67

Couple	Single
$800,000	$630,000

Superannuation balances required to achieve a modest retirement at age 67

Couple	Single
$120,000	$110,000

How should I budget for retirement?

The ASFA Retirement Standard estimates you’ll need between $36,548 pa for a modest retirement to $56,166 pa for a comfortable retirement income if you are single. For couples, they suggest $52,690 pa for a modest retirement to $78,998 pa for a comfortable retirement income*.

_{*as at June quarter 2026. Based on retirees aged 65-84 who own their own home.}

What’s the difference between a modest and comfortable lifestyle?

The ASFA Retirement Standard says that a modest retirement lifestyle is considered better than the Age Pension, but still only allows for the basics. A comfortable retirement lifestyle enables an older, healthy retiree to be involved in a broad range of leisure and recreational activities and to have a good standard of living through the purchase of such things as; household goods, private health insurance, a reasonable car, good clothes, a range of electronic equipment, and domestic and occasionally international holiday travel.

Are there other ways to fund my retirement?

The income you depend upon in retirement is usually from a mix of your super, other investments such as cash, shares or property, and for more than 60%* of us, the Age Pension continues to underpin retirement income.

Check to see if you’re eligible because it may help bridge the gap between what you have and the income you need.

*https://www.aihw.gov.au/reports/australias-welfare/income-support-older-australians

Let's look at your situation

Start your retirement planning in Australia with our Hitting the Target calculator. It can help determine your own budget and how much super you’ll need to achieve this lifestyle.

Calculate now

Regularly keep track of your super to see how you’re tracking. If your super could do with a little TLC, it’s better to get onto it sooner rather than later. You can also consider contributing a little extra to your super while you're still working to help boost your income when you retire.

More retirement needs explained

How much does a couple need to retire?

Ideally, a couple in Australia right now would need around $730,000 in super and other investments to retire comfortably, or around $120,000 to retire modestly along with the Age Pension, assuming you own your own home, and you have no major health concerns.

Source: https://www.superannuation.asn.au/resources/retirement-standard
How much super do I need to retire at 60 or 65?

Generally, retiring at age 60 may require a larger super balance compared to retiring at age 65, as you will need to fund a longer retirement period. Using our Hitting the Target retirement calculator can help you work out how much super you need per year based on your retirement goals.
Is $800,000 enough to retire at 65 in Australia?

Yes. Looking at the ASFA Retirement Standard, a couple needs approx. $730,000 for a comfortable retirement along with the Age Pension ($630,000 for singles), given they own their home and are of reasonable health.

Source: https://www.superannuation.asn.au/resources/retirement-standard
What happens if you have no superannuation?

If you have little or no super to retire on, then your primary source of income is likely to be the Age Pension (unless you have other investments outside of super). If you are eligible, you can only access the Age Pension when you reach 67 years of age, and the current maximum basic rate is around $1237.70 per fortnight for an individual and around $1866.00 per fortnight (combined) for most couples.

Source: https://www.servicesaustralia.gov.au/how-much-age-pension-you-can-get?context=22526

Want to get the most out of your super? We're here to help

At Prime Super we’ve got your back, no matter what life throws your way. Our super specialists are here to help you understand super to better prepare for retirement.

For general super enquiries, phone our team members on 1800 675 839 between 8am and 8pm AEDT/AEST Mon-Fri or email us here.

For anything more, book a chat with a super specialist.

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