Retirement Planning

You may not think it now, but retirement is one of the most important stages of your life. Whether it's one or 20 years away, we’re committed to helping you make the most of your super.


Understanding how much you'll need

When you retire, you may rely on more than one source of income including super, personal investments and the government Age Pension.

The amount of annual income you'll need in retirement is completely personal. It depends on the lifestyle you want after you stop working.

To provide some guidance, your lifestyle in retirement could be categorised as modest or comfortable. According to The Association of Superannuation Funds of Australia (ASFA), a modest retirement lifestyle is described as better than the Age Pension, but you would still only be able to afford fairly basic leisure activities. A comfortable retirement lifestyle however, gives retirees the opportunity to enjoy a wide range of leisure activities as well as a good standard of living.

Is your super on track?

To live comfortably in retirement, ASFA believes a single person would need about $43,538 pa and a couple would need around $59,808* pa.

Do you have enough super? Use our super and retirement calculator to see how long your super will last in retirement.

ASFA’s budgets for comfortable households and living standards*

  Single Couple
Housing - ongoing only $87.62 $101.57
Energy $43.62 $59.16
Food $112.62 $202.17
Clothing $38.13 $57.19
Household goods and services $76.95 $90.14
Health $87.22 $153.93
Transport $137.60 $140.22
Leisure $228.64 $313.32
Communications $22.58 $28.74
Total expenses per week $834.98 $1,147.00
Total expenses per year $43,538 $59,808

When to access your super

You can access your super when you satisfy a condition of release such as:

  • Reaching your 'preservation age' and permanently retiring from the workforce; or
  • Reaching your 'preservation age' and starting a Transition to Retirement strategy; or
  • Reaching age 60 and leaving or changing an employer; or
  • Turning 65.

Calculate your preservation age

Date of birth Preservation age
Before 1 July 1960 55
1 July 1960 - 30 June 1961 56
1 July 1961 - 30 June 1962 57
1 July 1962 - 30 June 1963 58
1 July 1963 - 30 June 1964 59
From 1 July 1964 60

*ASFA’s December quarter 2016 budgets assume that the retirees own their own home outright and are relatively healthy. The figures 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. The budgets above are for retirees aged 65-85, if you are aged over 85 please refer to the ASFA website. Single calculations are based on female figures.

The ASFA Retirement Standard December Quarter 2016. The retirement standard is updated quarterly to reflect inflation. 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. The ASFA Retirement Standard for December Quarter 2016 is available at

This website is provided by Retail Employees Superannuation Pty Limited ABN 39 001 987 739, AFSL 24 0003, trustee of Retail Employees Superannuation Trust ABN 62 653 671 394, of which Rest Super, Rest Corporate, Rest Select, Rest Pension and Acumen are part. It contains general advice that has been prepared without taking account of your objectives, financial situation or needs. Before acting on the information or deciding whether to acquire or hold a product, consider its appropriateness and the relevant Product Disclosure Statement (PDS), which is available on this website.

Awards and ratings are only one factor to consider when deciding how to invest your super. Further information regarding these awards can be found at Past performance is not an indicator of future performance. SuperRatings Pty Limited does not issue, sell, guarantee or underwrite this product. Go to for details of its ratings criteria. For further information about the methodology used by Chant West, see