Retirement Planning

You may not think it now, but retirement is one of the most important stages of your life. Whether it's one or 20 years away, we’re committed to helping you make the most of your super.


1. Understanding how much you'll need

When you retire, you may rely on more than one source of income including super, personal investments and the government Age Pension.

The amount of annual income you'll need in retirement is completely personal. It depends on the lifestyle you want after you stop working.

To give you an idea, the Association of Superannuation Funds of Australia (ASFA) categorised retirement lifestyle as modest or comfortable. According to ASFA, a modest retirement lifestyle is described as better than the Age Pension, but you’d still only be able to afford fairly basic leisure activities. A comfortable retirement lifestyle however, would give you the opportunity to enjoy a wide range of leisure activities and a good standard of living.

2. Check if your super’s on track

To live comfortably in retirement, ASFA believes a single person would need about $42,764 pa and a couple would need around $60,264* pa.

3. Start planning

Make use of our handy calculators

Super and Retirement Calculator: See how much super you could have to spend in retirement and explore different ways to help boost your super balance.

Retirement Budget Calculator: Review what you spend now, as well as the lifestyle changes retirement brings.

More useful calculators can be accessed here.

4. Get some help with Rest Advice

When it comes to super, we can all benefit with a little professional help. Take advantage of a complimentary super health check (all at no extra cost to you) with a Rest Adviser^, it’s just a chat to help you improve your financial future. Book a call at the time that suits you.
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ASFA’s budgets for comfortable households and living standards*

  Single Couple
Housing - ongoing only $114.00 $119.20
Electricity and gas $47.89 $59.39
Food $115.07 $200.00
Clothing and footwear $26.85 $50.00
Household goods and services $73.06 $89.86
Health $87.22 $153.93
Public Transport $97.17 $181.68
Leisure $178.47 $268.12
Communications $24.70 $32.15
Total expenses per week $819.22 $1,154.49
Total expenses per year $42,764 $60,264

When to access your super

You can access your super when you satisfy a condition of release such as:

  • Reaching your 'preservation age' and permanently retiring from the workforce; or
  • Reaching your 'preservation age' and starting a Transition to Retirement strategy; or
  • Reaching age 60 and leaving or changing an employer; or
  • Turning 65.

Calculate your preservation age

Date of birth Preservation age
Before 1 July 1960 55
1 July 1960 - 30 June 1961 56
1 July 1961 - 30 June 1962 57
1 July 1962 - 30 June 1963 58
1 July 1963 - 30 June 1964 59
From 1 July 1964 60

*The ASFA Retirement Standard is updated quarterly to reflect inflation. The ASFA’s March quarter 2018 budgets assume that the retiree(s) own their own home outright and are relatively healthy. The figures relate to expenditure by the household. This can be greater than household income after income tax where there is a drawdown on capital over the period of retirement. The budgets above are for retirees aged 65-85, if you are aged over 85 please refer to the ASFA website at

^Rest financial advice is provided by Rest advisers as authorised representatives of Adviser Network Pty Limited AFS Licence 232729 ABN 25 056 310 699.