How much super do you need to retire in Australia?
The widely used ASFA Retirement Standard estimates that a comfortable retirement needs a lump sum of roughly $630,000 for a single person and $730,000 for a couple (assuming you own your home). But the honest answer for a high earner is: it depends on the life you want to fund.
By Justin Porrins, CFP® · SMSF Specialist Adviser™ · Last reviewed 23 June 2026
The benchmark — and its big assumptions
The ASFA Retirement Standard (February 2026) puts a “comfortable” retirement at about $630,000 (single) and $730,000 (couple) in super, supported in part by the Age Pension and assuming you own your home outright. It’s a useful reference point — but it describes a modest-comfortable lifestyle, not necessarily the one a high-income professional has in mind.
Why your number is probably different
If your working lifestyle costs more than the ASFA “comfortable” budget, your retirement one likely will too. The benchmark also assumes no mortgage and an average spending pattern. For most of our clients the right question isn’t “what’s the standard number?” but “what does my ideal week cost, and what structure funds it tax-efficiently?”
The benchmarks at a glance
- Comfortable retirement (ASFA, Feb 2026; homeowner, age 67): about $630,000 (single) / $730,000 (couple) in super — funding roughly $54,840 / $77,375 a year.
- Modest retirement (ASFA): about $110,000 (single) / $120,000 (couple), relying more on the Age Pension.
- A lower-cost view (Super Consumers Australia): a “medium spend” single homeowner around $322,000.
- On track to the ASFA “comfortable” target: roughly $168,000 by age 40, $296,000 by 50, and $469,000 by 60.
Sources: ASFA Retirement Standard (February 2026) and Super Consumers Australia. Renters generally need substantially more, and these figures assume you own your home and draw a part Age Pension. General information only.
From a number to a plan
- Start with the lifestyle you actually want, then work back to the figure
- Factor in your home, any investment income and entities, not just super
- Use contribution and drawdown strategy to make the same balance go further
- Revisit it as the rules and your life change
A benchmark tells you the average. A plan tells you yours.
Common questions
How much super do I need to retire at 60?
Sixty is the most-asked retirement age — and the honest answer depends on your lifestyle and how long the money must last, potentially 30 years or more. The ASFA “comfortable” benchmark of roughly $630,000 (single) or $730,000 (couple) is a starting reference, but retiring at 60 means funding several years before Age Pension age, so many high earners aim higher. General information only.
How much super do I need to retire at 65?
By 65 you are at or near Age Pension age, which changes the maths — the pension can supplement your super, and the ASFA benchmarks (about $630,000 single / $730,000 couple for a comfortable lifestyle) already assume some of that support. If the lifestyle you want sits above “comfortable”, your number will be higher. We model your specific case rather than rely on a benchmark.
Is $1 million in super enough to retire on in Australia?
For many households $1 million comfortably exceeds the ASFA “comfortable” benchmark of roughly $630,000–$730,000 — but “enough” depends on your lifestyle, your home, your other assets and how tax-efficiently the money is drawn. The figure matters less than the plan around it.
How much super do I need to retire comfortably?
“Comfortably” has a specific benchmark: the ASFA Retirement Standard puts a comfortable retirement at roughly $630,000 (single) or $730,000 (couple) in super, assuming you own your home and draw a part Age Pension. If your idea of comfortable sits above the ASFA basket — as it does for most high earners — your number will be higher. General information only.
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