Will you have enough for the retirement you want?
Find out if the government Age Pension plus your super will give you enough income in retirement.
Calculate retirement incomeHow much super do you need?
Everyone has different retirement needs, so it’s important to know that planning for retirement is not a one-size fits all approach. The ASFA Retirement Standard benchmarks how much money retired Australians need each year for a modest or comfortable standard of living.
What you need for a modest or comfortable lifestyle
| Modest lifestyle | Comfortable lifestyle | |
|---|---|---|
| Single (per year) | $33,386 | $52,383 |
| Couple combined (per year) | $48,184 | $73,875 |
See what you could get if you rely solely on the Age Pension for retirement income.
Budgets for various households and living standards for those aged 65 - 84. Both budgets assume retirees own their own home and are relatively healthy. ASFA Retirement Standard as at March 2025.
What you could afford with each lifestyle
| Comfortable lifestyle | Modest lifestyle | Age pension | |
|---|---|---|---|
| Health and Insurance | Top level private health insurance, doctor/specialist visits, pharmacy needs |
Basic private health insurance, limited gap payments | No private health insurance |
| Home Utilities | Fast reliable internet/telco subscription, computer/android mobile/streaming services Confidence to use air conditioning in the home, afford all utilities |
Basic mobile, modest internet data allowance Need to keep a close watch on all utility costs and make sacrifices |
Very basic mobile and limited internet connectivity Limited budget for home heating in winter |
| Transport | Own a reasonable car, car insurance and maintenance/upkeep | Owning a cheaper, older, more basic car |
Limited budget to own, maintain or repair a car |
| Leisure | Regular leisure activities including club membership, cinema visits, exhibitions, dance/yoga classes Occasional restaurant meals, home-delivery meals, take-away coffee |
Infrequent leisure activities, occasional trip to the cinema Limited meals out at inexpensive restaurants, infrequent home-delivery or take-away |
Rare trips to the cinema Only local club special meals or inexpensive take-away |
| Home maintenance | Home repairs, updates and maintenance to kitchen and bathroom appliances over 20 years | Limited budget for home repairs, household appliances | Struggle to pay for repairs, such as leaky roofs or major plumbing problem |
| Travel and holidays | Annual domestic trip to visit family, one overseas trip every seven years | Annual domestic trip or a few short breaks | Occasional short break or day trip in your own city |
For more information, see the ASFA Retirement Standard.
Keep your money working for you in retirement
A super income stream can provide regular and tax-effective income, during your final years of work and into retirement. Designed to work with the pension, you can enjoy your retirement with as little as $80,000^ in your super account.
How the Age Pension works
When you receive retirement income from your super, you may still be eligible for the government Age Pension. Find out if you’re eligible and how much you could get.
Retirement spending planner
Work out how long you’ll be able to sustain your current way of life, while still enjoying those little extras in retirement.
Retiring during uncertain times
As cost-of-living pressures bite across Australia, you’re naturally going to think of your financial well-being. The choices you make now could significantly impact your retirement.
Come along to a retirement seminar
Learn more about retirement and super at one of our seminars. They're relaxed and informal so anyone can join, and they're provided as part of your membership.
Topics include retirement planning, the government Age Pension and transition to retirement.
Find a seminarMeet with a financial planner
As part of your Cbus membership, you have access to our team of financial advisers over the phone who can assist you in planning your retirement.
Cbus Advice Services can also refer you to an accredited financial planner who meets strict professional qualification and service criteria as set by Cbus and the Financial Advice Association Australia Limited (FAAA).
The financial planners offer advice on a fee-for-service basis, with any fees agreed with you in advance. You may be eligible to have the financial planner payment fees deducted directly from your Cbus account.
^ Estimated total retirement income in year one of $34,008 for someone aged 67, comprising of $4,254 from the Cbus Super Income Stream account and $29,754 from the Government Age Pension. According to ASFA (a super industry expert), a single person needs around $32,930 a year to live a modest lifestyle in retirement (e.g. basic activities). For further information, see ASFA retirement standard: superannuation.asn.au/retirement-standard. The income from the Cbus Super Income Stream and Age Pension is projected to increase by 2.5% pa, to cater for inflation and increase in living standards. The income from the Cbus Super Income Stream is projected to last until age 92. The Government Age Pension entitlement is based on current Centrelink income rates using the following assumptions: Single person, homeowner, $25,000 in personal assets. Account-Based Pension investment return of 5.75% p.a. after fees and taxes. Administration fee of $52, with 0.19% asset-based administration fee. Calculated using the Cbus Retirement Income Estimate Calculator as at 13/12/2024. The amount of income you receive and how long it will last will depend on a range of factors, such as the amount initially invested, your age and investment performance. There is a risk that your pension income may reduce or cease if you draw your income too fast or if investment returns are poor.