Checking how your super balance compares with others your age, and what you should be aiming to have today, can help you understand if you're on track to fund the retirement you want.
Having a good understanding of your own super, and how it compares, is the first step towards a better retirement.
This tool should only be used for educational purposes. The use of the tool does not involve the provision of advice or a recommendation from Colonial First State.
It is important that you consider your individual objectives, financial situation and needs before making an investment decision.
How much super will you need?
The amount of super you need to support your retirement will depend on what kind of lifestyle you're hoping to enjoy, and how much income you'll be earning in addition to your super savings.
The table below gives you an idea of how much retirement income you might to enjoy a comfortable, or modest retirement, and compares these benchmarks against the Age Pension.
$51,278.30 a year
$32,665.66 a year
$29,023 a year
$72,148.19 a year
$46,994.28 a year
$21,876 (each) a year or $43,753 (combined) a year
Annual budgets for households and living standards for those aged 65-84 (December quarter 2023)
Source: ASFA Retirement Standard (December quarter 2023); SuperGuide Age Pension rates (March to September 2024)
You can use our retirement calculator to help you determine how much money you will need for the lifestyle you want when you retire. You can also find out more about the amount of super you need in retirement at this page How much should I have?
How can you boost your super health?
Consolidate your super
Bring all your super into one account and save on management fees.
Get advice
Financial advice is powerful. 65% of Australians who have a financial adviser are confident they'll have enough money to retire.1
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Call us or talk to an advisor about your investment needs today.
1. Source: CFS commissioned survey on 2,247 Australians aged 18+ between July and September 2023.
Information on this webpage is provided by Avanteos Investments Limited ABN 20 096 259 979, AFSL 245531 and Colonial First State Investments Limited ABN 98 002 348 352, AFSL 232468. It may include general advice but does not consider your individual objectives, financial situation, needs or tax circumstances. You can find the target market determinations (TMD) for our financial products at www.cfs.com.au/tmd, which include a description of who a financial product might suit. You should read the Financial Services Guide (FSG) available online for information about our services.