How much super do I need to retire comfortably in Australia?

ASFA (Association of Superannuation Funds of Australia) estimates a comfortable retirement requires $595,000 for a single person and $690,000 for a couple (2024–25). A modest retirement requires approximately $100,000, supplemented by the Age Pension. These are lump-sum targets at retirement assuming drawdown over 20–25 years.

What is the superannuation guarantee rate in 2024–25?

The Superannuation Guarantee (SGC) rate is 11.5% in 2024–25. It rises to 12% on 1 July 2025 and stays at 12% permanently. Employers must contribute at least this percentage of ordinary time earnings into your nominated super fund.

Finance Calculator

🇦🇺 Australia

Superannuation Calculator

Project your super balance at retirement and see if you're on track for ASFA's comfortable retirement standard. Updated for 11.5% SGC (2024–25).

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Current age

Retires at 67 (preservation age)

Current super balance ($)

Check your super fund app or myGov

Annual salary ($)

Before tax, before super

Employer contribution rate (%)

Voluntary contributions ($/month)

Salary sacrifice or personal deductible contributions

Annual investment return (%)

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See your projected super balance at age 67, compare it to ASFA's comfortable retirement standard, and discover how much extra voluntary contributions would add.

How Australian super works

Superannuation is Australia's mandatory retirement savings system. Your employer contributes 11.5% of your ordinary time earnings (rising to 12% from 1 July 2025) into your nominated super fund. This is paid on top of your salary — it doesn't reduce your take-home pay.

Inside super, earnings are taxed at just 15% — well below most Australians' marginal income tax rates of 30–45%. This tax advantage, compounded over decades, is what makes super the most efficient long-term savings vehicle available to Australians.

You can access super when you reach your preservation age (60 for most Australians born after 1964) and retire, or turn 65 regardless of work status.

ASFA retirement benchmarks (2024–25)

Comfortable (single)

$595,000

Covers private health, car, leisure, home repairs

Comfortable (couple)

$690,000

Same lifestyle for two

Modest (single)

~$100,000

Relies heavily on Age Pension

Age Pension only

~$27,000/year for singles

Source: ASFA Retirement Standard, March Quarter 2025. Assumes home ownership and 20–25 year retirement drawing on both super and Age Pension.

The most powerful lever: starting early

At 7.5% returns, $10,000 in super at age 30 grows to approximately $108,000 by age 67 — without adding another dollar. The same $10,000 invested at age 45 reaches only $35,000. The 15-year difference costs $73,000 in final balance.

This is why voluntary contributions in your 30s and 40s have disproportionate impact. An extra $200/month in salary sacrifice from age 35 adds approximately $260,000 to your retirement balance at 67 — while costing you only $140/month after the 15% super tax (vs 30–45% marginal rate). See our superannuation guide for more on contribution strategies.

Frequently asked questions

Australian balanced super funds have returned approximately 7–9% per annum over the past 30 years. The default of 7.5% is a conservative long-term estimate. High growth options have averaged closer to 9%. Use a lower figure (5–6%) for a more conservative projection. All returns are before tax — super fund earnings are taxed at 15% in accumulation phase, which is already factored into historical averages quoted by funds.

ASFA (Association of Superannuation Funds of Australia) publishes quarterly benchmarks for retirement living standards. A 'comfortable' retirement (2024–25) requires $595,000 for singles and $690,000 for couples — this funds a lifestyle that includes private health insurance, a reasonable car, home repairs, and leisure activities. A 'modest' retirement requires approximately $100,000, relying heavily on the Age Pension.

Yes — you can make voluntary concessional contributions (salary sacrifice or personal deductible) up to a combined cap of $30,000 per year (including employer SGC). Non-concessional (after-tax) contributions are capped at $110,000 per year (or $330,000 using the 3-year bring-forward rule). Exceeding these caps triggers additional tax.

Your super balance stays in your fund when you change jobs — it's your money, not your employer's. You can nominate the same fund to your new employer. The ATO recommends consolidating multiple accounts to avoid paying multiple sets of fees. Lost or ATO-held super can be found through myGov.

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