ASFA Retirement Standard for September 2015 quarter

ASFA has released their Retirement Standards for the September 2015 quarter as follows (for those aged around 65):

The amount specified as supporting a ‘modest’ retirement lifestyle remains slightly above the full rate of payment of the Age pension which is currently $22,542 pa for a single person and $33,982 pa for a couple, including supplements.

The amounts required for a ‘comfortable‘ retirement lifestyle envisage healthy retirees who can participate in a range of leisure activities and have a relatively good standard of living including allowances from replacement of household goods, car, private health insurance and occasional domestic and international holiday travel. A detailed budget of expenses behind the annual figures above can be found on the ASFA web page – refer to The ASA Retirement Standard resource.

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