Whether you're in the early stages of your career, are approaching retirement or somewhere in between, it's never too early to start planning to secure your financial future.
How much super will you need to retire on?
The amount you'll need depends on your personal circumstances and your retirement goals. For example, if you're single, own your home and maintain a modest lifestyle you'll have different retirement needs to a couple with plans of travel and who take part in many leisure activities. Whatever your future plans are, it's important to start preparing early so you can assess all your options before it's too late. To help you determine your retirement income, the Government's MoneySmart website has a calculator to forecast what your super balance might look like when you retire.
Start contributing more to your retirement
While your employer makes compulsory super contributions, it's also possible for you top up these payments. Find out more about making contributions.
Know when you can access your super
You're able to access your super benefits on retirement (either when you fully or semi retire) when you reach 65 years of age, or at your preservation age, this is dependent on your date of birth:
| Date of birth |
Preservation age |
| Prior to 1 July 1960 |
55 |
| 1 July 1960 – 30 June 1961 |
56 |
| 1 July 1961 – 30 June 1962 |
57 |
| 1 July 1962 – 30 June 1963 |
58 |
| 1 July 1963 – 30 June 1964 |
59 |
| 1 July 1964 to present 60 |
60 |