Thought this was a very interesting article (The Age) I think this is pretty much stating that those who retire at 65 on the pension can live well/comfortable on $30,903 (couples) and $58,784 Association of Superannuation Funds is quoting as "comfortable lifestyle" is over the top. Sounds a little too lean..... http://www.theage.com.au/comment/re...you-dont-need-much-super-20151206-glgmjj.html "The latest scary figure, produced by the Association of Superannuation Funds, is $58,784 per year. That's how much it says a 65-year-old couple needs to live on in order to enjoy a "comfortable" retirement. At the risk of stating the obvious, after tax and rent or mortgage payments most working Australians couldn’t afford such comfort. It's absurdly high. The fine print shows such a couple would spend $40 a week on alcohol, $80 a week on dining out, almost $200 a week on food and groceries, $136 a month on the phone and internet, $4000 a year on holidays within Australia, and $14,000 every five years on a holiday abroad. The Association of Superannuation Funds estimate of how much a 65-year-old couple need to live is absurdly high. Illustration: John Shakespeare Photo: Illo:Shakespeare Plus this: the best part of $250 a month on new clothes and shoes, $80 a month on hairdressing, $54 a month on pest control and/or an alarm service, and $350 a month on private health insurance At the risk of stating the obvious, after tax and rent or mortgage payments most working Australians couldn't afford such comfort. How did such a figure come to be defined as the gold standard used to justify steady increases in compulsory super contributions and to attack plans to tax them properly? The truth is that living costs plummet on retirement. Most retirees no longer face a mortgage, a saving of 30 per cent. Most no longer pay tax, no longer have children living at home, and no longer habitually save up to 10 per cent of each pay packet. They also no longer incur the substantial costs of heading out of home and going to work: petrol, parking, work clothes and the temptations of the office cafeteria. And they have more time to shop and cook, meaning they get better value and pay less for food. So comfortable are retirees spending far less than the industry says they need to, that most actually save. There may well be other Australians for whom retirement is uncomfortable, notwithstanding the pension of $20,498 for singles and $30,903 for couples. But for most it's OK, no worse than working. There's no need to hand a $2 trillion industry tax concessions in order to help them".