How much super should I have?

It’s the number one question members ask, and it’s different for everyone. According to The Association of Superannuation Funds of Australia (ASFA), the current benchmark for a comfortable retirement is around $630,000 for a single person or $730,000 for a couple at age 67¹.

The bigger question is: how are you tracking today? Whether you’re in your 30s, 40s, 50s or 60s, understanding your current balance can help you see whether you’re on track. To help make it clearer, we’ve done the maths for you, so you can see how your super balance stacks up at every stage.

Planning for a comfortable retirement can feel like a moving target. If retiring around age 67 is your goal, these balance milestones give you a clear guide to what you may need to be on track at each stage of your working life.

How much super you’ll need in retirement depends on the life you want to live — and what other income you expect to have. Each quarter, ASFA updates two lifestyle benchmarks to help make this clearer. Your super balance doesn’t work in isolation. Income from the Age Pension, part‑time work or other investments can all reduce how much super you’ll need to feel comfortable.

ASFA also sets annual income targets based on the kind of retirement you’re aiming for. Depending on how much income you expect to receive from other sources, you can then estimate how much super you’ll need to reach the “comfortable” or “modest” benchmarks. You can see these in the table below, including how these compare with the maximum rate of Age Pension.

By comparing your super balance with both the average Australian and the ASFA ‘comfortable’ retirement target, you’ll quickly see how you’re tracking. If you’re ahead of the average Australian, but still below the comfortable target, it could be time to think about boosting your super.

Acting earlier can make a meaningful difference to the lifestyle you want in retirement.

There’s a number of additional strategies you can consider to boost your retirement income. Some of these include:


• Explore our range of financial advice options to support you at every stage of life.
• Understand whether you're on track with simple, tailored advice on your super.
• Top up your super with salary sacrifice, or a personal super contribution.

When you retire, you might be eligible for government benefits like the Age Pension or a concession card. This will depend on your age, your residency status, and your financial situation.   
 
You might also be eligible for: 

• Carer allowance: If you provide daily care to an elderly person or someone with a disability, or a serious illness. 
• Rent assistance: To help cover your rent if you’re renting privately.  
• Concession card: will be issued automatically if you’re receiving the Age Pension. 
• Commonwealth Seniors Health Card: separate from the Pensioner concession card.  

Both cards allow you to access cheaper medicines, bulk billing for doctor’s appointments, and reduced out-of-hospital expenses through Medicare.  

There may also be additional concessions from state or territory governments, or from local councils and businesses.  

Planning your financial future can be complex and there's a lot to consider - but we're here to help. 

If you’re looking for more tailored and in-depth guidance around your super savings and retirement planning, we’ve got you covered. 

As a CFS member, you can book a free session with one of our guidance consultants. Either select time a time that suits you or simply call us on 13 13 36.

Our consultants can check if you’re on track for your dream retirement, explain income streams, and offer general financial advice.

We also have a range of more comprehensive financial advice options, if that’s what you're looking for. Ranging from an ongoing relationship with a financial adviser, to one-off sessions.