Australian retirement in numbers
The key figures behind Australian retirement — the Age Pension, super, the ASFA retirement standard, aged care and longevity — in one place, with sources. Rates are a 2026 vintage and are indexed regularly.
Updated · General information, not financial advice
The Age Pension
The Age Pension starts at age 67. It is means-tested on both income and assets; the test that produces the lower payment applies.
| Measure | Single | Couple (combined) |
|---|---|---|
| Maximum payment (per year) | $31,223 | $47,070 |
| Assets-test free area — homeowner | $333,000 | $499,000 |
| Assets-test free area — non-homeowner | $600,000 | $766,000 |
| Income-test free area (per year) | $5,876 | $10,296 |
Financial assets are deemed to earn a set rate for the income test:
| Deeming | Rate | Applies to |
|---|---|---|
| Lower rate | 1.25% | first $66,800 (single) / $110,600 (couple) |
| Upper rate | 3.25% | balance above the threshold |
Superannuation
| Measure | Value |
|---|---|
| Super Guarantee (employer contribution) | 12% |
| Preservation age (when you can access super) | 60 |
| Concessional (pre-tax) contribution cap — per year | $32,500 |
| Non-concessional (after-tax) cap — per year | $130,000 |
| Transfer balance cap (max in a tax-free pension) | $2,100,000 |
| Division 293 threshold (extra 15% contributions tax) | $250,000 |
Approximate median super balances by age (before the run-up to retirement):
| Age band | Approx. median balance |
|---|---|
| 25–34 | ~$25,000 |
| 35–44 | ~$55,000 |
| 45–54 | ~$95,000 |
| 55–64 | ~$160,000 |
How much you need — the ASFA Retirement Standard
The industry benchmark for annual spending in retirement (assuming you own your home outright):
| Lifestyle | Single — per year | Couple — per year |
|---|---|---|
| Comfortable | $54,840 | $77,375 |
| Modest | $35,503 | $51,299 |
And the lump sum ASFA estimates you need at 67 to fund it (the rest comes from the Age Pension):
| Lifestyle | Single | Couple |
|---|---|---|
| Comfortable | $630,000 | $730,000 |
| Modest | $110,000 | $120,000 |
Aged care
About 1 in 3 people use permanent residential care at some point, typically entering around age 85 for ~2.6 years. Try the aged care calculator for your own numbers.
| Residential fee | Maximum (2026 vintage) |
|---|---|
| Basic daily fee (flat) | $23,926/yr |
| Hotelling (means-tested) | $8,085/yr |
| Care contribution / NCCC (means-tested, capped) | $39,172/yr, capped at $137,917 / 4 yrs |
| Room — national average RAD | $570,000 |
| Room — as a daily payment (MPIR) | 7.96% |
| Former-home value cap (means test) | $214,884 |
Longevity
Life expectancy matters because it sets how long your money must last. At age 65, an Australian can expect to live to roughly:
| At age 65 | Life expectancy | Chance of reaching |
|---|---|---|
| Men | ~85 | ~1 in 2 reach 85 |
| Women | ~88 | ~1 in 2 reach 88 |
Sources
See these numbers in your own plan
The free planner applies all of the above — the Age Pension, super, tax and aged care — to your own situation, in today's dollars.
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