Super
What Number Do You Actually Have in Your Head?
One of the first things I ask women who are thinking about retirement is: what number do you actually have in your head? Almost always the answer is vague. A million dollars, maybe. Or: I haven’t really looked. Both are understandable. The number feels abstract until you understand what it is buying, and for single women in particular, the real retirement picture is more complicated than a single figure can capture.
So let me start with the figures that actually exist, explain what they mean in practice, and then talk about why the standard benchmarks tell only part of the story for women.
What the ASFA Benchmarks Say
The Association of Superannuation Funds of Australia publishes a Retirement Standard each quarter. The most recent update, from early 2026, sets the benchmarks for a single homeowner at:
$630,000
Around $54,240 a year
Top-level private health insurance, a reliable newer car, regular dining out, domestic holidays, and one international trip roughly every seven years. A genuinely good life, not an extravagant one.
$110,000
Around $35,503 a year
At the modest level, the Age Pension covers most of the cost. The full Age Pension for a single person sits at approximately $29,000 a year including supplements.
Why the Homeownership Assumption Matters
Both ASFA benchmarks assume you own your home outright with no mortgage at retirement. That assumption is doing a great deal of work in those figures. For women who are renting in retirement, the picture is substantially different.
Super Consumers Australia estimates that a single renting retiree needs approximately $659,000 in super, compared with around $322,000 for a homeowner at a middle spending level.
Rent, even modest rent, is the single biggest variable in a retirement budget. If you are currently renting and expect to be renting in retirement, the $630,000 comfortable benchmark is a floor, not a ceiling.
This is one of the reasons property ownership is part of the retirement planning conversation, not separate from it. Whether you own your home at retirement is one of the most significant financial decisions you will make.
Why Single Women Face a Harder Road
Australian women retire with around 25 percent less super than men on average. Women aged 65 can expect to live to around 87.7 years. Less money, needed for longer.
The reasons are structural. The gender pay gap means lower contributions from day one. Career breaks for caregiving interrupt contributions at the years when compounding growth is most powerful. Part-time and casual work — which women make up the majority of — produces lower super at every stage.
From 1 July 2025, the government began paying super on Parental Leave Pay for the first time. For women with babies born or adopted on or after that date, a 12 percent super contribution is paid on top of their parental leave payment. It is a meaningful step. For women already in their 40s and 50s, the years when those contributions would have made the most difference are behind them. The work now is forward-looking.
ASFA Benchmarks by Age
ASFA also publishes recommended balances by age, which give a more practical real-time measure. As rough guides: around $66,500 at 30, $168,000 at 40, and $296,000 at 50. These are guides, not verdicts. If you are 45 and below $168,000, that is information. It is the starting point for a plan.
What catches people off guard is how much each year of delay costs in the decade between 45 and 55. A dollar contributed at 40 has 27 years to grow before the standard retirement age of 67. A dollar contributed at 55 has 12. The maths rewards early action in a way that is difficult to catch up later.
Can a Single Woman Retire Comfortably on Less Than $630,000?
The honest answer is: it depends. Super Consumers Australia puts the comfortable figure for a single homeowner at around $322,000 at a middle spending level, which is significantly less than the ASFA comfortable benchmark. The gap between those figures is almost entirely about lifestyle expectations and spending choices.
Own your home outright, draw a part Age Pension, and live a measured lifestyle, and $400,000 to $500,000 in super may fund a retirement that feels genuinely comfortable to you. Rent your home, or carry a mortgage into retirement, and the number climbs substantially.
What Actually Moves the Needle
- Salary sacrifice into super while you are working, reviewed regularly and set at a level that takes advantage of the 15 percent contributions tax rate.
- The government co-contribution if you earn under $62,488 and make personal after-tax contributions.
- Review your investment option to make sure it suits your age and time horizon.
- Consolidate multiple accounts to stop fees eroding your balance across accounts you have forgotten about.
None of these require a large amount. They require consistency and the understanding of how they work. That is exactly what I built My Money Makeover to teach — a full module on super in plain English, alongside a complete system for the rest of your financial life.
Ready to know your number — and actually reach it?
My Money Makeover is a 7-module program that covers super in plain English, with a complete system for the rest of your financial life. Built for women who want to retire on their own terms.
Frequently Asked Questions
Based on the ASFA Retirement Standard (early 2026 update), a single homeowner needs approximately $630,000 in super to fund a comfortable retirement, supporting an annual income of around $54,240. Comfortable means top-level private health insurance, a reliable newer car, regular dining out, domestic holidays, and one international trip roughly every seven years. The figure assumes you own your home outright.
It depends on housing and lifestyle. Super Consumers Australia puts the figure for a single homeowner at around $322,000 at a middle spending level — significantly less than the ASFA comfortable benchmark. If you own your home outright, draw a part Age Pension, and live a measured lifestyle, $400,000 to $500,000 in super may fund a retirement that feels genuinely comfortable. If you rent or carry a mortgage into retirement, the number climbs substantially.
Super Consumers Australia estimates a single renting retiree needs approximately $659,000 in super, compared with around $322,000 for a homeowner at a middle spending level. Both ASFA benchmarks assume outright homeownership, so if you expect to rent in retirement, the $630,000 comfortable benchmark should be treated as a floor, not a ceiling. Rent is the single biggest variable in a retirement budget.
ASFA’s modest retirement standard for a single homeowner requires an annual income of around $35,503, funded by a super balance of approximately $110,000. At the modest level, the Age Pension — approximately $29,000 a year for a single person including supplements — covers most of the cost. Modest covers the basics with limited extras, which is why many women aim for something between modest and comfortable.
