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Showing 1 - 10 of 22 results for "ASFA Retirement Standard"

ASFA Retirement Standard hits record high

ANDREW MCKEAN  |  WEDNESDAY, 13 MAR 2024
The ASFA Retirement Standard for December quarter 2023 increased to a record high $72,148 per year for couples, and $51,278 for singles. The necessary lump sum for a "comfortable retirement" increased by 3.5% from last year. "Retiree budgets have been ...

'Kick down the road' mentality fuels retirement insecurity: Study

ANDREW MCKEAN  |  MONDAY, 22 MAY 2023
... that their existing savings and superannuation balance are insufficient in this economic climate." The ASFA Retirement Standard suggests that retirees need over $500,000 in their super balance, far exceeding the average Australian super balance for early ...

Cost of retirement in lockstep with inflation: ASFA

ANDREW MCKEAN  |  THURSDAY, 17 NOV 2022
... (ASFA), the amount needed for a comfortable retirement has risen again in the September quarter. The ASFA Retirement Standard September quarter 2022 figures show that couples aged around 65 living a comfortable retirement now need to spend $68,014 per ...

Australians worry about retirement - and maybe they should

ANDREW MCKEAN  |  TUESDAY, 8 NOV 2022
... work, and just 18% believe they'll amass enough money to retire "comfortably." For reference, the ASFA Retirement Standard defines the super balance required to achieve a comfortable retirement at age 67 as $640,000 for couples, and $545,000 for ...

Calls for greater efforts to close gender pay, super gap

ANDREW MCKEAN  |  WEDNESDAY, 24 AUG 2022
... median super balance for males is $208,200 compared to just $168,000 for females. For reference, the ASFA Retirement Standard contends that the super balance required to achieve a comfortable retirement at age 67 is $640,000 for couples and $545,000 ...

Aussies don't need so much in retirement savings: SCA

JAMIE WILLIAMSON  |  TUESDAY, 19 JUL 2022
New retirement targets released by Super Consumers Australia suggest the ASFA Retirement Standard needs a rethink, saying a pre-retiree couple only needs to save $402,000 by age 65 to achieve a joint annual income of $64,000 in retirement. The consumer ...

Cost of retirement increases

ELIZABETH MCARTHUR  |  TUESDAY, 24 AUG 2021
... Association of Superannuation Funds of Australia (ASFA) the cost of retiring increased in the June quarter. The ASFA Retirement Standard June quarter 2021 figures indicate that couples aged around 65 living a comfortable retirement need to spend $63,352 ...

AustralianSuper SG modelling paints dismal picture

KANIKA SOOD  |  TUESDAY, 18 FEB 2020
... older member) at the current 9.5% SG and if it rises to the planned 12%. The comparison benchmark was the ASFA Retirement Standard, which set $545,000 as the lump sum required for a comfortable retirement. Of the four cameos, none would hit $545,000 ...

Australians retire too wealthy: Grattan

ELIZABETH MCARTHUR  |  TUESDAY, 4 JUN 2019
... reducing contribution limits and imposing a uniform tax rate in retirement of 15%. Daley was critical of the ASFA retirement standard, which according to the Grattan modelling, is too generous. He sees superannuation's purpose as allowing people ...

UniSuper redefines comfortable retirement

EMMA RAPAPORT  |  TUESDAY, 14 MAR 2017
... a lower income, it varies for each individual." Traditionally superannuation funds have relied on the ASFA Retirement Standard of $59,619 a year for a couple and $43,372 a year for a single individual to benchmark how members are tracking retirement ...
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