What the Average Australian Actually Retires With — and What the Age Pension Adds

The typical Australian heading into retirement has about $200,000 in super - not the number the headlines keep quoting. Then there's the Age Pension. I work out exactly how much of it the typical retiree gets, to the dollar, and what the two add up to. Free download: The Australian Retirement Readiness Checklist – 48 things to check before you stop working: https://aussiewealthwithemma.com.au TIMESTAMPS 0:00 The typical balance - and the pension on top 0:35 The medians only count people with super 0:58 Median super at 60-64, men and women 1:25 Median vs average 1:45 ASFA's comfortable standard - and the fine print 2:38 Meet Carol 2:56 The assets test 3:14 The income test and deeming 3:57 Carol's Age Pension - $1,232.16 a fortnight 4:08 Adding her super 4:42 Carol on one card (screenshot this) 5:32 If you rent 6:08 The twist - double the super 7:07 Why the pension takes it back 7:47 Couples 8:58 Recap WHAT'S IN THIS ONE (Age Pension rates from 20 September 2026) - Median super at 60-64: $203,326 (men $236,126, women $174,655) - ATO data as at June 2024, analysed by ASFA. The medians leave out people with no super at all: nearly 1 in 5 women and about 1 in 10 men that age - Median vs average - why you'll see much bigger numbers quoted - ASFA's comfortable ($56,166 a year) and modest ($36,548) budgets, and the fine print: the $630,000 lump sum already assumes a part Age Pension - Carol - 67, single, homeowner, $200,000 in super: the assets test, the income test and deeming, step by step. Age Pension $1,232.16 a fortnight ($32,036 a year) + $10,000 minimum drawdown = $42,036 a year - Renters: the $600,000 assets limit, Rent Assistance, and ASFA's $340,000 renter lump sum - The twist: double Carol's super to $400,000 and, at the minimum drawdown, her income rises by only about $2,600 a year - and why - A couple on the men's and women's medians ($410,781): about $67,600 a year IMPORTANT - CAROL'S FIGURES ASSUME she's 67, single, owns her home, has no other income, and holds $30,000 of car and contents. The couple example is a husband on the men's median and a wife on the women's median - not "the median couple". Your own figures depend on all your assets and income. If you rent, the numbers change a lot - see the renters section. GENERAL ADVICE DISCLAIMER This video is general information only. It does not take into account your objectives, financial situation or needs, and it is not personal financial advice. Age Pension rates and thresholds change in March, July and September - check your own position with Services Australia, and speak with a licensed financial adviser before acting. A note on how this is made: Every script starts with real research and is checked against current ATO and Services Australia figures - that part isn't automated. AI tools produce the narration and visuals. I write, verify, and stand behind every word. Thanks for being here. #AussieWealth #Superannuation #RetirementAustralia #AgePension #AverageSuper #ASFA #Centrelink #RetirementPlanning