Retirement Savings Gap Calculator
Calculate whether your super and savings will provide enough retirement income, and identify any shortfall.
How much you want per year in retirement (today's dollars)
Non-super savings, shares, investment property equity, etc.
Total annual contributions (employer + salary sacrifice)
How long you expect retirement to last. Average life expectancy at 65 is ~85 for men, ~87 for women.
How It Works
Projects your combined super and savings at retirement age using compound growth, then calculates the total income needed over your retirement years. The gap (if any) is the shortfall between projected savings and the amount needed to fund your desired retirement income.
Frequently Asked Questions
What is the ASFA Comfortable Retirement Standard?
ASFA's Comfortable Retirement Standard (2024) requires ~$51,630/year for singles and ~$72,663/year for couples. This covers a good standard of living including health insurance, a reasonable car, leisure activities, and occasional overseas travel.
Will I get the Age Pension?
The full Age Pension (2024) is ~$28,514/year for singles and ~$42,988/year for couples. It's means-tested on assets and income. Many retirees receive a part pension. The pension age is 67.
How long does super last in retirement?
ASFA suggests a lump sum of ~$595,000 (single) or ~$690,000 (couple) at age 67 for a comfortable retirement, assuming you own your home. The 4% rule suggests drawing down 4% per year, making your super last ~25 years.
Should I use super or savings first?
Generally, drawing on non-super savings first can be advantageous because super in pension phase is tax-free. However, this depends on your specific tax situation and age — consult a financial adviser for personalised advice.
Related Calculators
Super Balance Growth Calculator
Project your superannuation balance at retirement based on current balance, contributions, and investment returns.
Super Contribution Optimiser
Calculate tax savings from salary sacrifice and personal super contributions against the concessional cap.
Compound Interest Calculator
Calculate compound interest with regular contributions, showing growth over time with different compounding frequencies.
Super Fund Comparison Calculator
Compare two superannuation funds side-by-side on fees, returns, and insurance over 10, 20, and 30 years.