It's estimated that a single person needs around $52,085 a year to live comfortably in retirement. And for a couple, it's around $73,337 a year for those aged 65-84.^ You can see there's a gap between what you'll get from the Age Pension and living comfortably.
This is where your super savings fit in, as it can act as a supplement to the Age Pension.
ASIC'S Moneysmart calculators can help you work out what sort of income you'd like, and how much you'd need to save to get there.
* Figure includes the maximum pension and Clean Energy Supplements, Services Australia, September 2024.
^ Association of Super Funds Australia Retirement Standard, June 2024.
Every dollar you contribute can make a big difference over time. And there are different ways you can boost your super, depending on what suits you.
