Original article by Anthony Keane
The Australian – Page: 19 : 13-Mar-24

Data from the Association of Superannuation Funds of Australia shows that couples now require $72,148 a year to live comfortably in retirement, while single people need $51,278. The cost of a comfortable retirement increased by 3.5 per cent in 2023, below the official inflation rate of 4.1 per cent. The rising cost of insurance, electricity and food contributed to the increase in ASFA’s retirement standard for the December quarter. CEO Mary Delahunty says the compulsory super guarantee’s increase to 12 per cent by mid-2025 will help more people to reach ASFA’s comfortable retirement standard level.

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THE ASSOCIATION OF SUPERANNUATION FUNDS OF AUSTRALIA LIMITED