Resources

The Association of Superannuation Funds of Australia provides numerous resources for the superannuation industry and general public.

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ASFA Retirement Standard

Since 2004 The ASFA Retirement Standard has served as Australia’s trusted retirement savings companion, providing a comprehensive breakdown of expenses for both a comfortable and modest lifestyle, for couples and singles to maintain a healthy, vital and connected lifestyle in retirement. It also estimates the superannuation balance required to achieve this.

ASFA Research and Resource Centre has created two separate documents to reflect the above information; the Detailed Retirement Expenditure Breakdowns estimating the weekly/annual expenses in retirement (with figures updated quarterly), and the ASFA Retirement Standard Explainer outlining the lump sums needed at retirement and how this is calculated.

Detailed Retirement Expenditure Breakdowns

How much you spend in retirement


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The Detailed Retirement Expenditure Breakdowns list the weekly and annual expenditure required for both comfortable and modest lifestyles in retirement, for both couples and singles.

Updated quarterly to reflect changes to the Consumer Price Index (CPI), the budgets assume that the retirees own their own home outright and are relatively healthy.

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Budgets for various households and living standards for those aged 65-84(June quarter 2022)


Comfortable lifestyle (p. a.) Modest lifestyle (p. a.)
Couple Single
$66,725 $47,383
Couple Single
$43,250 $30,063

Budgets for various households and living standards for those aged around 85 (June quarter 2022)


Comfortable lifestyle (p. a.) Modest lifestyle (p. a.)
Couple Single
$61,108 $43,996
Couple Single
$39,788 $27,754

Note: 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.

ASFA Retirement Standard Explainer

The lump sum you need for retirement at age 67


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The ASFA Retirement Standard Explainer shows the lump sum amount needed by the average Australian to fund a comfortable and modest retirement (for both couples and singles) and the methodology behind the calculations.

It is assumed that the retiree will draw down all their capital and receive a part Age Pension.

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Superannuation balances required to achieve a comfortable retirement


Savings required for retirement at age 67
Couple Single
$640,000 $545,000

Superannuation balances required to achieve a modest retirement


Savings required for retirement at age 67
Couple Single
$70,000 $70,000

All figures in today’s dollars using 2.75% AWE as a deflator and an assumed investment earning rate of 6 per cent. The fact that the same savings are required for both couples and singles reflects the impact of receiving the Age Pension.

Note: The lump sum estimates prepared by ASFA take into account the receipt of the Age Pension both immediately and into the future. The Age Pension is adjusted regularly by either the increase in the CPI or by a measure of wages growth, whichever is higher. The ASFA lump sum figures are therefore not updated quarterly.

Comfortable retirement lifestyle for retirees

The comfortable retirement standard allows retirees to maintain a good standard of living in their post work years. It accounts for daily essentials, such as groceries, transport and home repairs, as well as private health insurance, a range of exercise and leisure activities and the occasional restaurant meal. Importantly it enables retirees to remain connected to family and friends virtually – through technology, and in person with an annual domestic trip and an international trip once every seven years.


The modest retirement standard budgets for a retirement lifestyle that is slightly above the Age Pension and allows retirees to afford basic health insurance and infrequent exercise, leisure and social activities with family and friends.

Both budgets assume that the retirees own their own home outright and are relatively healthy.

Helpful Super Guru retirement calculators and tools

How is your
retirement tracking?

Use the ASFA Retirement Tracker tool.

How much super
should I have today?

Find out with the Super Balance Detective tool.

Retirement Standard
Media Releases 2022

Media Release 18 August 2022
Price increases for retirees but more Australians set to have a comfortable lifestyle in retirement in the future

Media Release 2 June 2022
Cost of living pressures hurt retirees too

Media Release 10 February 2022
Inflation increases pressure on Australian retiree budgets

See all media releases


Media enquiries

Please contact the ASFA Media Unit.

The ASFA Retirement Standard methodology was last reviewed in April 2018 and figures are updated quarterly to reflect changes to the Consumer Price Index (CPI). More information on the calculation of Retirement Standards is available here.


The ASFA Retirement Standard for those aged 85 and over was first included in 2015. More information on the calculation of Retirement Standards for those aged 85 and over is available here.