For Australian retirees
Can a couple retire at 62 with $800,000 in super?
Here's what the numbers say for a couple (homeowner) in 2026, based on current ATO and Services Australia rules.
At 62, super is accessible but the Age Pension is still five years away. How your balance depletes during this window directly affects your Centrelink entitlements — counterintuitively, spending down your super can increase the pension you receive from 67. With $800,000 combined in super, a part Age Pension from 67 is likely. How quickly you draw down before then affects your entitlements — the couple homeowner cutoff is $1,085,000.
Your super is projected to last past age 90, supported by the Age Pension from 67. You appear to be in good shape.
Age Pension eligibility at 67
Part pension — $914/fn
With $800,000 combined in super, you'd likely qualify for a part Age Pension of around $914 per fortnight from age 67. See below for what's limiting the amount.
Why not the full pension?
Your super and other assets are above the level where you'd get a full pension. Centrelink reduces your payment by $3 for every $1,000 of assets above the threshold — this is called the assets test taper. As your super balance decreases over retirement, you may become eligible for a larger pension.
Your super runway
Lasts until age 115
Currently showing ASFA comfortable standard for singles.
With Age Pension
Age 115
Without Age Pension
Age 99
Balanced returns (7%/yr), $50K cash, Age Pension from 67 (includes base rate + pension supplement + energy supplement). Adjust your spending to see the impact.
This is based on standard assumptions
Your situation is different.
The full tool reveals what this page can't show you:
- What if you work part-time through your 60s? (TTR pension scenarios)
- What if you add extra super contributions before retiring?
- What if your partner has super too? (couple scenarios)
- Your actual salary, super balance, and other assets — not fixed assumptions
- Year-by-year breakdown with your real numbers
Free. No sign-up required. Takes about 2 minutes.
Modelled outcomes only. Not financial advice. Projections assume a couple (homeowner), $65K combined annual spend in today's dollars, $50K in cash and investments, and a 7% p.a. balanced return. Age Pension amounts include base rate, pension supplement, and energy supplement — the full payment a pensioner receives. Estimates use 2025–26 Services Australia thresholds. Past returns are not indicative of future performance. Consult a licensed financial adviser before making retirement decisions.
What if you had more time or more savings?