Super Consumers Australia revealed in its 2026 Retirement Savings Target for Homeowners report, that based on the spending and lifestyles of real retirees, a typical, single homeowner will need around $322,000 in superannuation for a comfortable retirement, with homeowner couples needing a combined $423,000.
Dr Katrina Ellis, Deputy CEO of SCA, said the latest figures show that many people may already be on track for a comfortable retirement and not realise.
“For many people this is good news – by knowing your retirement super target you can balance your quality of life now with your quality of life in retirement.”
Super Consumers Australia recommends all Australian homeowners take a moment to find their own target.
“It should be a lot easier to understand your retirement savings and spending target. Some super funds are good at helping you understand and make decisions for your retirement, while some leave a lot to be desired,” Ellis said.
“While we encourage every homeowner to find their own retirement target, we also want to see super funds make it a lot easier to do across the board. Good funds provide an estimate of retirement income for their members already. We want to see all funds provide this guidance.”
Meanwhile, a new survey by MFS Investment Management has revealed that most Australians remain uncertain about their ability to retire comfortably, despite a rise in confidence levels compared to last year.
The 2025 MFS Global Retirement Survey found that only 39 per cent of Australian superannuation members felt “very or extremely confident” they would be able to retire at their desired age.
Among retirees, just 45 per cent were confident their assets would provide sufficient cashflow throughout retirement.
While both groups showed some improvement on respective 2024 confidence levels, the findings highlight that a majority of Australians remain unsure about their retirement prospects.
That concern is underlined by a sharp rise in the proportion of members who no longer believe they will be able to retire. Now 38 per cent of members, up from 28 per cent last year, no longer feel they will be able to retire, while 64 per cent expect to work longer than planned, an increase of four percentage points on the previous year.
Consistent with 2024 survey findings, three-quarters of super fund members also acknowledged needing to save more for retirement than originally planned, reinforcing that saving for the future remains a leading financial concern.
Housing costs have now overtaken day-to-day living expenses as Australians’ top financial worry, followed closely by the impact of inflation on purchasing power. In response, 33 per cent of members adjusted their retirement investments over the past year, up from 25 per cent in 2024.
Josh Barton, senior managing director and head of Australia and New Zealand at MFS Investment Management, said while it’s natural for financial concerns to prompt adjustments, it’s crucial for investors to stay focused on long-term goals.
“Remaining invested over the long term allows members to benefit from compounding returns and ride out market fluctuations, ultimately helping secure a more stable retirement,” he said.
While uncertainty remains high, Australians rely on a number of resources to make retirement planning decisions. Super funds continue to be the most relied-upon source of advice, used by 54 per cent of participants.
Additionally, Australians say they use financial planners, the financial media and online investment services, as well as family members and friends, peers and coworkers to help with retirement planning decisions.
