1. Retirement Standard

ASFA Retirement Standard

The ASFA Retirement Standard is updated quarterly.

Figures for the March 2015 quarter will be released week commencing
4 May 2015.


The ASFA Retirement Standard benchmarks the annual budget needed by Australians to fund either a comfortable or modest standard of living in the post-work years. It is updated quarterly to reflect inflation, and provides detailed budgets of what singles and couples would need to spend to support their chosen lifestyle.

Budgets for various households and living standards

The most recent national figures released for the ASFA Retirement Standard show that, in general, a couple looking to achieve a comfortable retirement needs to spend $58,364 a year, while those seeking a ‘modest’ retirement lifestyle need to spend $33,766 a year.

Check what budget you will need in retirement with the ASFA Retirement Standard Calculator.

Budgets for various households and living standards (December Quarter 2014)

Modest lifestyle
– single
Modest lifestyle
– couple
Comfortable lifestyle
– single
Comfortable lifestyle
– couple
Housing - ongoing only $69.47 $66.68 $80.52 $93.33
Energy $41.07 $54.55 $41.68 $56.53
Food $77.13 $159.76 $110.18 $198.32
Clothing $17.69 $28.71 $38.28 $57.43
Household goods and services $26.70 $36.21 $75.12 $88.00
Health $40.29 $77.75 $79.93 $141.06
Transport $93.92 $96.58 $139.96 $142.62
Leisure $74.51 $111.00 $225.79 $309.42
Communications $9.32 $16.32 $25.62 $32.60
Total per week $450.09 $647.57 $817.07 $1,119.32
Total per year $23,469 $33,766 $42,604 $58,364

The figures in each case assume that the retiree(s) own their own home and relate to expenditure by the household. This can be greater than household income after income tax where there is a drawdown on capital over the period of retirement. Single calculations are based on female figures. All calculations are weekly, unless otherwise stated.

Modest vs Comfortable retirement lifestyle

Modest retirement lifestyle –
Better than the Age Pension, but still only able to afford fairly basic activities.

Comfortable retirement lifestyle –
Enabling 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.

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