how much will I need?

How much money you'll need in retirement depends on the lifestyle you want. The Government Age Pension for 2021-22 pays around $24,770 a year for singles*. Sound like enough? Most of us feel we need more than that to live. That's where super comes in.

nobody can predict the future, but you can prepare for it.

One study estimates that a single person needs around $44,000 a year to live comfortably in retirement. And for a couple, it's around $63,000 a year.^ You can see there's a gap between what you'll get from the Age Pension and living comfortably.

This is where your super savings fit in, as it can act as a supplement to the Pension.

ASIC'S Moneysmart calculators can help you work out what sort of income you'd like, and how much you'd need to save to get there.

Budget calculator

Work out where your money is going with ASIC's MoneySmart Budget planner. Calculate my budget now

Superannuation calculator

Estimate what your balance could be at retirement with ASIC's MoneySmart Superannuation calculator. Calculate your future super balance

know you need more?

Every dollar you save could make a big difference over time. And there are different ways you can boost your super, depending on what suits you.

Learn more

* Figure includes the pension and Clean Energy Supplements. Department of Human Services, March 2021.

^ ASFA Retirement Standard, June 2021.