Why is super important?

Your retirement might feel like a far off dream, full of holidays, gardening or general relaxing, but without super, and the right amount of super, your retirement might continue to be a distant dream for a lot longer than you think.

Your super will most likely be the second largest asset you will have in your life. So you should take care of it and plan for it accordingly.

You can’t rely on the Government to support you

When you are ready to retire, you might find that there is a gap between what the Government provides and what you will need for day to day living.


Singles Couples
Estimate of how much you will need per fortnight for retirement (from ASFA’s Retirement Standard)
Modest lifestyle $871.31 $1,256.00
Comfortable lifestyle $1,584.50 $2,169.46
The current Government Age Pension
Standard (not including the Pension Supplement) $733.70 $1,106.20

Will you have enough?

Here are some things to consider which may help you understand the importance of super and having enough for your retirement:

  • It is recommended that you plan to have an annual income in retirement which is at least 60% of your employment income. So if you earn $50,000 annually, you should plan to have at least $30,000 of income in retirement.
  • We are living longer, so depending on your age, sex and health, when you hit 65 years of age, you may need to plan for 25+ years of retirement. This means you need to prepare now so that your super can last.
  • The Government’s pension only starts when you hit the age pension age, generally 65 (click here to find out what the age pension age is for you). This means if you would like to retire earlier, or to transition into retirement, you need to have additional income, such as super, ready.

    You can use our retirement gap calculator to see if you will have enough super for retirement. Click here to view our page on growing your super or contact your financial adviser to get help in creating a strategy to build your super.