How much super do I need, how much will I have?

These are two of the most important questions in the lead-up to retirement. We can help you answer them.

How much super do I need for retirement?

The answer to this question depends on your personal situation, including what sort of retirement lifestyle you’d like and when you plan to finish work. We can help you work through these questions at a Retirement Health Check appointment.

The Association of Superannuation Funds of Australia (ASFA) also provides guidelines¹ for people planning their retirement. The table below outlines the budgets required to fund a Comfortable or Modest retirement lifestyle.

Comfortable and Modest retirement lifestyle

Comfortable lifestyle		Modest lifestyle
A comfortable lifestyle allows you to: afford daily living expenses attend leisure and social activities afford basic home repairs and updates travel once a year within Australia or overseas every seven years.		A modest lifestyle allows you to: pay for the basic living expenses have occasional social and leisure activities travel once a year within Australia or a few short breaks.
Comfortable lifestyle (p.a.)		Modest lifestyle (p.a.)
Couple $73,077	Single $51,805	Couple $47,470	Single $32,897
Requires a lump sum of		Requires a lump sum of
Couple $690,000	Single $595,000	Couple $100,000	Single $100,000

How much super will I have?

The above figures are guidelines. It’s worth working through your personal retirement plans, and how your super balance is tracking towards that.

A retirement projection shows how much you’re likely to retire with based on your current super balance and contributions. Once you have that figure, you can see if you’re on track for the retirement you want, or if you’d like to take action to boost your balance.

How to get a retirement projection

Option 1 Book a Retirement Health Check with our Advice team2	Option 2 Use our Retirement projection calculator
The cost is already included in your membership, and you can bring your partner too, even if their super is elsewhere	Step 1: Log into your firstonline account and check your current balance. Step 2: Enter that figure and some other personal details into our Retirement Projection calculator. It only takes a few minutes.
> Book a Retirement Health check	> Retirement Projection calculator

More resources to explore

We’re here to help. So let’s talk.

Retirement planning can be complex, but you don’t need to go it alone. We’re here to help each step of the way. If you have questions, please call our Member Services Team on 1300 360 988, email us or use the Live Chat.

¹ ASFA Comfortable and Modest figures as at December 2024 for people aged 65-84. The ASFA Retirement Standard lump sums are based on someone being aged 67 (age pension age), homeowner, and eligible for the age pension.
² First Super Financial Advisers are authorised representatives of Industry Fund Services Limited (ABN 54 007 016 195, AFSL 232514) and can provide personal advice tailored to your objectives, financial situation and needs.

Issued by First Super Pty Ltd (ABN 42 053 498 472, AFSL 223988), as Trustee of First Super (ABN 56 286 625 181). This page contains general advice which has been prepared without taking into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and read the Product Disclosure Statement (PDS) before making any investment decisions. To obtain a copy of the PDS or Target Market Determination please contact First Super on 1300 360 988 or visit our PDS & Publications page.