The biggest superannuation question for most people is ‘how much do I need to save for my retirement?’
While there is no simple answer as we all have different needs and goals, there are some guidelines available to help you set your super goals. The Association of the Superannuation Industry of Australia (ASFA) reviews these guidelines each quarter to allow for movements in living costs for retirees.
For some time, living costs have increased and therefore the amount of money estimated to be required for retirement also increased. However, living costs overall decreased during the December 2011 quarter; the decrease was small (0.1% for a couple living comfortably) and therefore similar to the ‘no change’ to CPI for the same period.
We list and update these figures on our site each quarter.
For help in deciding if you need more super or how to build your super faster, why not call our Member Advice Consultants for help? It’s free personalised advice on your super for all AvSuper members up to 3 times a year.