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Under these assumptions, $300,000 in super alone runs out before age 92 on the comfortable single budget — the gap narrows once the Age Pension is counted from 67. This is a modelled, indicative projection under stated assumptions — a 5% investment return, 2.5% inflation, the ASFA comfortable budget and homeowner status — never a definitive claim that you can or cannot retire.
Figures are modelled from age 67, at a 2.5% real return (5% investment return minus 2.5% inflation), against the ASFA Retirement Standard budgets for a homeowner. Not a prediction, and not financial advice.
Yes. Preservation age is 60 for everyone born after 30 June 1964, so at 67 you are at or beyond that threshold. Super becomes accessible once you meet a condition of release — most commonly, retiring from the workforce.
Retiring at 67 is at or past Age Pension eligibility (67), so there is no gap to bridge — entitlement can be assessed from the first year of retirement.
Assuming super is the only assessable asset, no other income, and the balance is unchanged from today. The full rate is $31,223 a year for a single and $47,070 for a couple.
Spending $55,923 a year — the comfortable single budget — from age 67, $300,000 funds this spending for 15 years with the Age Pension counted, against 6 years from super alone — 9 years longer.
A couple spending $78,566 a year from the same $300,000, retiring at 67, funds this spending for 12 years with the Age Pension counted, against 5 years from super alone — 7 years longer.
Projected from age 67 to 92 at the same 5% return and 2.5% inflation used above, with the means test re-assessed every year as the balance changes.
Work out your own entitlement — the assets test is usually what decides it — or check with Services Australia.
A 2.5% real return on $300,000 earns about $7,500 a year, so any budget below that is self-sustaining and anything above it draws the balance down. These figures exclude the Age Pension.
| Retirement budget | Annual spend | How long it lasts |
|---|---|---|
| Modest, singleCovers the basics with few extras — a modest retirement is only a little above the Age Pension. | $36,434 | 10 years |
| Modest, coupleThe same basics-only budget for a couple sharing costs. | $52,473 | 7 years |
| Comfortable, singlePrivate health cover, a reasonable car, domestic holidays and regular leisure. | $55,923 | 6 years |
| Comfortable, coupleThe benchmark most people picture when they think of a good retirement. | $78,566 | 5 years |
The budgets above assume you own your home outright, which is how ASFA publishes its headline figures. Renting adds roughly $14,730 a year to a modest single budget.
| Renting in retirement | Annual spend | How long it lasts |
|---|---|---|
| Modest, single, rentingA basics-only budget while paying rent costs nearly as much as a comfortable retirement with no mortgage. | $51,164 | 7 years |
| Modest, couple, rentingThe renting equivalent for a couple. | $69,002 | 5 years |
Change the balance, retirement age, drawdown, return and inflation and see the balance-over-time chart.
This is a modelled projection, not advice, and the indicative answer depends heavily on your spending. On the ASFA comfortable single budget — $55,923 a year — $300,000 is modelled to last about 6 years from age 67, at a 5% investment return and 2.5% inflation, before counting the Age Pension. You can access super at this age, since it is at or above preservation age.
Preservation age is 60 for everyone born after 30 June 1964, so retiring at 67 is at or beyond that threshold and super is accessible once you meet a condition of release such as retirement. That is different from Age Pension eligibility, which is a separate, later age (67).
Retiring at 67 means Age Pension eligibility (67) has already been reached, so there is no funding gap to bridge — the pension can be assessed and paid from the first year of retirement, means tested against $300,000. Across the projection, $300,000 funds this spending for 15 years with the Age Pension counted, against 6 years from super alone — 9 years longer.
Yes, materially. A couple sharing $300,000 spends less per person on the ASFA comfortable couple budget ($78,566 a year combined) than two singles would separately, and each partner reaching Age Pension age brings in an entitlement (up to $47,070 a year combined at the full rate) that a single retiree does not get to split. From 67, a couple on the comfortable couple budget from the same $300,000 funds this spending for 12 years with the Age Pension counted, against 5 years from super alone — 7 years longer.
The balance and its investment growth do not change with age, but two things do: how many years the money has to stretch, and the length of the gap before the Age Pension. Retiring later shortens both — less time to fund alone, and a shorter or nonexistent pre-pension gap. Retiring earlier lengthens both. Compare this same $300,000 at age 55 or 60 below.
Once you start an account-based (allocated) pension you must withdraw a legislated minimum each year, set by your age under Schedule 7 of the SIS Regulations — 4% under 65, rising in steps to 14% from 95. Retiring at 67, and the rate rises automatically as you age, applied to your balance at 1 July each year.
No — renting adds roughly $14,730 a year to a modest single budget compared with owning outright. On $300,000 from age 67, that shortens a modest single retirement from about 10 years to about 7 years. Housing status is the single biggest variable in any retirement budget, at any age.
See how retiring earlier or later changes the answer for the same $300,000.
See how a bigger or smaller balance changes the answer for retiring at 67.
ATO rates checked against official sources — verified 12 August 2026
Estimates only. Not financial or tax advice. Full disclaimer for your rights and our limitations of liability.
Rates and thresholds last updated for the 2026–27 financial year.