There is no single super balance everyone needs to retire. Your spending, housing, retirement age and other income shape the answer. Australian benchmarks can help you get your bearings, but your own retirement may look different.
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How much super do I need to retire?
Start with the life your money needs to support. Everyday costs such as groceries, bills, transport and health care sit alongside housing, holidays and occasional large expenses.
Think about income as well as a lump sum. Super may be one part of the picture, alongside savings, a partner’s resources, paid work or any Age Pension you qualify for.
Then consider time. Retiring earlier usually means more years to fund. Future prices, returns and unexpected expenses can also change how far a balance goes.
A retirement benchmark is a guide to a set of assumptions, not a promise that your money will last.
Australian retirement savings benchmarks
ASFA’s current lump-sum benchmarks for retirement at age 67 are:
Comfortable: $630,000 for a single person
Comfortable: $730,000 for a couple combined
Modest: $110,000 for a single person
Modest: $120,000 for a couple combined
These homeowner benchmarks assume you draw down your capital and receive Age Pension support. They use assumed investment returns and are expressed in today’s dollars. “Comfortable” and “modest” describe ASFA’s modelled lifestyles, not everyone’s idea of a good retirement.
Figures checked 30 September 2026. They are general reference points, not personal targets.
Retiring at 60 or renting changes the picture
A benchmark based on retiring at 67 does not answer how much you need at 60. You may have seven years before Age Pension age, plus a longer retirement to fund. Accessing super at 60 also requires meeting the release rules.
Housing makes a big difference. Homeowner figures do not include ongoing private rent. Rent, mortgage payments and future increases need their own place in a retirement budget.
Age Pension support is not automatic at 67. Services Australia considers residence, income and assets. The amount and timing can differ from a model’s assumptions.
Bring the question back to your number
Your balance today and the balance you may need in retirement are different questions. Comparing super by age can provide context, but it cannot tell you what your own lifestyle will cost.
My Tomorrow helps you explore what your super could become using your age, income, current balance and retirement age. Results are illustrations based on assumptions, not guaranteed outcomes.
Use that estimate as one part of the picture alongside your expected costs and other resources. Understanding retirement age in Australia also helps separate when you stop work from when super or Age Pension support may become available.
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Frequently asked questions
Is $500,000 enough super to retire?
Generally, a round number alone cannot answer this. $500,000 may support very different retirements depending on spending, housing, age and other income. It is also important to distinguish one person’s balance from a couple’s combined savings.
Do I need $1 million to retire in Australia?
There is no rule that everyone needs $1 million. Some people may need more than published benchmarks, and others less. A useful estimate connects spending and other income with the years to be funded, rather than treating a round number as a universal goal.
Are the couple benchmarks a combined amount?
Yes, ASFA’s couple figures refer to combined savings, not that amount for each partner. Couples can share some household costs, but each household is different. Different ages, retirement dates and pension eligibility can also affect the picture.
Do these benchmarks include rent?
No. The homeowner benchmarks above assume you own your home outright. Someone renting needs to allow for ongoing rent and possible increases. ASFA publishes separate renter estimates, but your actual location, rent and other costs still matter.
How do I know if I have enough super to retire?
It depends on your spending, housing costs, retirement age and other income, including any Age Pension you qualify for. The My Tomorrow Retirement Calculator can help you explore what your super could become. It is a starting point, not a guarantee that your money will last or a recommendation about when to retire.
My Tomorrow is an independent retirement-awareness tool. This is general information, not personal financial advice.
Sources: ASFA: Retirement Standard · Services Australia: Age Pension eligibility
Information checked 30 September 2026.