The ASFA Retirement Standard defines the income needed for a comfortable and modest retirement in Australia, updated quarterly to reflect changes in living costs. These benchmarks are widely used by financial planners, superannuation funds, and individuals to assess retirement preparedness.
A comfortable retirement as defined by ASFA requires an annual income of around $72,663 for couples and $51,630 for singles in 2025. Achieving this level of income from superannuation alone requires a balance at retirement of approximately $690,000 for couples and $595,000 for singles.
Many Australians are on track for a modest retirement rather than a comfortable one, particularly women who have taken career breaks and those who spent periods in part-time or casual employment. Voluntary superannuation contributions including salary sacrifice arrangements can significantly improve retirement outcomes.
The age pension remains an important component of retirement income for many Australians. The assets test and income test determine eligibility for a full or partial pension.
Data sourced from ASFA Retirement Standard quarterly updates and APRA Annual Superannuation Statistics. Updated quarterly.