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 and reflects evolving community expectations and spending habits to maintain health, vitality, and connection in retirement.

The ASFA Retirement Standard benchmarks the minimum annual cost of a comfortable or modest standard of living in retirement for singles and couples aged around 67, is reviewed regularly and updated quarterly in line with inflation.

ASFA also creates annual retirement budgets for Australians aged around 85. These have less expenditure on leisure activities and transport and more on health care related items.

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.

Budgets for various households and living standards for those aged around 67

Comfortable lifestyle (total per year)
Single Couple
$44,818 $63,352
Modest lifestyle (total per year)
Single Couple
$28,514 $41,170

(June quarter 2021, national)

Budgets for various households and living standards for those aged around 85

Comfortable lifestyle (total per year)
Single Couple
$42,713 $59,286
 Modest lifestyle (total per year)
Single Couple
$27,011 $38,640

(June quarter 2021, national)

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.

Retirement Standard explainer and quarterly budget breakdowns

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 2021

Media Release 24 August 2021
Cost of retirement rises again in the June quarter with higher petrol, health and food costs

Media Release 20 May 2021
Cost of retirement up in the March quarter as petrol, eating out and entertainment costs rise

Media Release 4 March 2021
Cost of retirement up in December quarter as health insurance, domestic holiday prices rise

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.