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Retirement needs calculator

What income are you
likely to need when you retire?

Use this calculator to help plan for your retirement.

Let's get started


This calculator is current at the date of publication and is subject to change. It contains general information and does not take account of your specific objectives, financial situation or needs or personal circumstances.

While we have made every effort to ensure all assumptions are reasonable, you should review them to match your own expectations/circumstances and not take them as the most appropriate assumption in all cases.

Your retirement outcome will be affected by many factors including investment returns, fees and regulatory changes. Some factors that may affect your retirement outcomes may not have been taken into account in this calculator.

This is a model, not a prediction. You should not rely upon this tool for the purposes of making a financial decision. You should consider your own situation, objectives and needs, and obtain specific, individual advice from a financial services licensee before making any investment decisions.


This calculator uses the following settings which can be adjusted below:

Fixed assumptions

  • You must be aged between 16 and 67 to use this calculator.
  • All amounts are in today's dollars and are adjusted for an assumed annual inflation rate of 2%. In addition, a further annual increase of 1% is included to take into account the cost of meeting increases in community living standards. This means a total assumed inflation rate of 3% is allowed for. You can adjust that rate above.
  • We assume that your super is invested in a balanced option. Investment returns can be adjusted above.
  • An investment fee of 0.58% is applied in this calculator. This figure cannot be altered.
  • Life expectancy is based on the Australian Life Tables which are produced by the Australian Government Actuary.
  • The projected "Super balance needed at retirement" and "This is estimated to last for" on the final step of this calculator are estimates based on life expectancy according to the Australian Life Tables. This is an estimate only. You may in fact live longer or shorter than this prediction. If you do live longer than the estimated age then you may require a higher super balance when you retire.
  • The "retirement standard" figures provided are current as at the March quarter 2022 and are based on the ASFA Retirement Standard. The ASFA Retirement Standard benchmarks the annual budget needed by Australians to fund either a comfortable or modest standard of living in the post-work years. It is updated annually to reflect inflation and provides detailed budgets of what singles and couples would need to spend to support their chosen lifestyle. The figures assume that the retiree(s) own their own home outright and are relatively healthy.
  • The difference between the comfortable and modest retirement lifestyle budgets mainly relates to the extra items included in the comfortable budget. These include items such as updates to a kitchen or bathroom, eating out from time to time, entertaining family or friends at home, private health insurance at the top rate, an economy overseas holiday, alcohol, tobacco and buying gifts etc.
  • While ASFA updates their Modest and Comfortable living standard figures on a quarterly basis, in this calculator, figures are updated annually, with current figures from the "ASFA Retirement Standard March quarter 2022". This calculator has rounded up all figures to the nearest dollar.