Retirees face an acceleration in the rise of living costs

Now in its 16th year, the ASFA Retirement Standard draws on real life expenditure patterns and prices for goods and services, and has become the go-to tool to work out amounts needed to sustain modest and comfortable retirement lifestyles. Here ASFA Director of Research ROSS CLARE discusses the latest findings.

The ASFA Retirement Standard December quarter 2019 figures indicate that couples aged around 65 need to spend $62,269 per year and singles $44,146, up 0.8 per cent for each on the previous quarter. Over the year to the December quarter 2019 costs were up around 2.1 per cent for couples compared to the 1.8 per cent increase in the All Groups CPI. This equates at the comfortable level to couples needing to spend $1,292 more a year, and for singles the amount is $829. The impact of the drought is even clearer in the figures for the increase in prices...

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Retirees face an acceleration in the rise of living costs

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Retirees face an acceleration in the rise of living costs

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