🦘 Australia · 2026–27 rates

How long will my super last?
Super drawdown calculator 2026

Example: $500,000 spending $50,000 a year from 65 at a 5% return runs out at age 78 without the Age Pension, and lasts past 100 with it. Model your own annual drawdowns, investment returns and Age Pension income year by year — using the FY2026-27 minimum drawdown rates and the Age Pension rates in force from 20 Sep 2026.

Read the full answer — drawdown rates, Age Pension & assets tests

Quick answer: Minimum drawdown rates for account-based pensions (FY 2026-27, set by your age at 1 July): under 65 = 4%, 65-74 = 5%, 75-79 = 6%, 80-84 = 7%, 85-89 = 9%, 90-94 = 11%, 95+ = 14%. Account-based pension earnings are tax-free for over-60s. Maximum Age Pension from 20 September 2026: single A$1,237.70/fortnight ≈ $32,180/year; couple A$933.00 each ≈ $48,516/year combined (next indexed 20 March 2027). Assets-test thresholds from 1 July 2026 for the FULL pension: $333,000 single homeowner, $499,000 couple homeowner combined, $600,000 single non-homeowner, $766,000 couple non-homeowner; above those the pension reduces by $3 per fortnight per $1,000 of assets.

💡

Richify AI can model multiple drawdown scenarios and optimize your retirement income strategy. Download Richify — 7-day free trial

Super balance at retirement$500,000
Accessible investments (non-super)$100,000
Annual spending target$55,000
Expected return in retirement5%
Your age at retirement65

Starting balance

$600,000

Lasts to

100+

Years of income

35+ years

Year-by-year drawdown schedule

AgeOpeningDrawdownPensionReturnsClosing
65$600,000−$55,000—+$27,250$572,250
66$572,250−$55,000—+$25,863$543,113
67$543,113−$39,209+$15,791+$25,195$529,099
68$529,099−$38,116+$16,884+$24,549$515,533
69$515,533−$37,057+$17,943+$23,924$502,399
70$502,399−$36,033+$18,967+$23,318$489,685
71$489,685−$35,041+$19,959+$22,732$477,376
72$477,376−$34,081+$20,919+$22,165$465,459
73$465,459−$33,152+$21,848+$21,615$453,923
74$453,923−$32,252+$22,748+$21,084$442,755
75$442,755−$31,381+$23,619+$20,569$431,943
76$431,943−$30,537+$24,463+$20,070$421,476
77$421,476−$29,721+$25,279+$19,588$411,343
78$411,343−$28,931+$26,069+$19,121$401,533
79$401,533−$28,165+$26,835+$18,668$392,036
80$392,036−$27,442+$27,575+$18,230$382,823
81$382,823−$26,798+$28,294+$17,801$373,826
82$373,826−$26,223+$28,777+$17,380$364,984
83$364,984−$26,057+$28,943+$16,946$355,873
84$355,873−$25,886+$29,114+$16,499$346,486
85$346,486−$31,184+$29,290+$15,765$331,067
86$331,067−$29,796+$29,579+$15,064$316,334
87$316,334−$28,470+$29,855+$14,393$302,258
88$302,258−$27,203+$30,119+$13,753$288,807
89$288,807−$25,993+$30,371+$13,141$275,955
90$275,955−$30,355+$30,612+$12,280$257,880
91$257,880−$28,367+$30,951+$11,476$240,989
92$240,989−$26,509+$31,268+$10,724$225,204
93$225,204−$24,772+$31,564+$10,022$210,453
94$210,453−$23,160+$31,840+$9,365$196,658

Your savings last to 100+

Richify AI can help optimise your drawdown strategy to maximise your retirement lifestyle while preserving your balance.

But what if your spending changes?

SpendingSuper lasts
$45,000/yr100+
$55,000/yr (you)100+
$65,000/yrto age 88
$75,000/yrto age 81

Richify explores these scenarios with your actual super, property, investments and spending — and keeps the answer live as markets move.

Build my retirement plan — 7-day free trial

Minimum pension drawdown rates for super (2026–27)

Age rangeMinimum drawdown rateOn $500K balance
Under 654%$20,000/yr minimum
65–745%$25,000/yr minimum
75–796%$30,000/yr minimum
80–847%$35,000/yr minimum
85–899%$45,000/yr minimum
90–9411%$55,000/yr minimum
95+14%$70,000/yr minimum

Source: ATO / superannuation law minimum pension standards. These are the standard minimum drawdown percentages for account-based pensions. The COVID-era 50% reduction has been fully unwound. The rate is applied to your account balance at 1 July, and pro-rated by days if you start the pension mid-year.

How long will my super last?

The question has four inputs — your balance, your spending, your return, and whether you get the Age Pension — and the fourth one dominates. Below are the results this calculator produces for a single homeowner retiring at 65 with a 5% return, without the Age Pension and with a means-tested one from 67:

Starting balanceAnnual spendingNo Age PensionWith Age Pension
$300,000$45,000age 72 (7 yrs)lasts past 100
$500,000$50,000age 78 (13 yrs)lasts past 100
$500,000$55,000age 76 (11 yrs)age 99 (34 yrs)
$750,000$60,000age 83 (18 yrs)lasts past 100
$1,000,000$70,000age 88 (23 yrs)age 98 (33 yrs)
$1,500,000$80,000lasts past 100lasts past 100

The Age Pension changes the arithmetic because it is indexed income for life, and it grows as your balance shrinks. The means test is recalculated on what is left each year: a single homeowner with $300,000 gets about $30,161 a year, with $500,000 about $19,154 (the assets test bites), and above $745,750 nothing. So large balances run down on their own for years, then the pension starts to cushion them, which is why even the bigger rows last much longer once it is switched on.

Modelling assumptions, stated plainly: returns are a flat annual percentage with no sequencing risk, spending is constant in today's dollars, and the Age Pension (from 67) runs the assets and income tests every year on your remaining balance, assuming you own your home and have no other income or assets (super, savings and investments are all deemed). Other assets or a partner's income would lower it; the Age Pension calculator handles those.

How long will $500,000 (or $1 million) last in retirement in Australia?

For a single homeowner retiring at 65 with a 5% return and the means-tested Age Pension from 67, $500,000 lasts past age 100 spending $50,000 a year and to about age 80 spending $70,000. The table shows the age your money runs out for each balance and yearly spending; "100+" means it lasts past 100. Change the inputs above for your own situation.

Balance at 65$40,000/yr$50,000/yr$60,000/yr$70,000/yr$80,000/yr
$300,000100+age 85age 75age 72age 70
$400,000100+100+age 82age 76age 73
$500,000100+100+age 89age 80age 76
$600,000100+100+age 95age 84age 79
$800,000100+100+100+age 91age 84
$1 million100+100+100+age 98age 89
$1.2 million100+100+100+100+age 96
$1.5 million100+100+100+100+100+
$2 million100+100+100+100+100+

Single homeowner, no other income or assets, constant spending in today's dollars (see the inflation calculator for what that means in future dollars), flat 5% return, minimum drawdown rates applied, Age Pension means-tested each year from 67 at the rates from 20 September 2026.

How super drawdown works

When you retire (from age 60 for most Australians), you can convert your super accumulation account into an account-based pension. This allows regular withdrawals at no tax — earnings in pension phase are tax-free, and withdrawals after age 60 are tax-free. You must withdraw at least the APRA minimum percentage each year, but there is no maximum.

The Age Pension safety net

From age 67, Australians who meet the assets and income tests can receive a full or part Age Pension. From 20 September 2026 the maximum single rate is A$1,237.70 a fortnight, about $32,180 a year; for couples it is A$933.00 each, about $48,516 a year combined. Both are indexed again on 20 March 2027. The Age Pension significantly reduces the amount you need to draw from your own portfolio, extending the life of your savings. Visit Services Australia for eligibility details.

3 strategies to make your money last longer

  1. Reduce discretionary spending by $5,000–10,000/yr — Even small spending reductions compound over a 25-year retirement. As shown above, cutting $5,000/yr can add years to your runway.
  2. Maintain a growth allocation in early retirement — Many retirees switch entirely to conservative investments. Keeping 30–50% in growth assets during the first decade can significantly improve long-term outcomes.
  3. Maximise Age Pension eligibility — Structure your assets to qualify for a part pension from age 67. From 1 July 2026 a single homeowner keeps the FULL pension up to $333,000 of assessable assets ($499,000 combined for a homeowner couple), after which it reduces by $3 per fortnight per $1,000. Assets restructuring before 67 is worth discussing with a financial adviser.

Plan your retirement income with confidence

Join 40,000+ users who use Felix to model drawdown scenarios, track their super, and optimise their retirement strategy. Free download.

Download Richify — 7-day free trial

Related Australian super tools

Super calculator

Project your super balance at retirement at SG 12%.

Salary sacrifice calculator

Tax saving from redirecting pre-tax salary into super.

Carry-forward super calculator

Unused concessional cap from the last 5 years — and what expires 30 June 2027.

Super co-contribution calculator

The government matches after-tax contributions 50c in the dollar, up to $500.

Parental leave super calculator

The ATO now pays 12% super on Parental Leave Pay — children born from 1 July 2025.

Division 293 calculator

Check if the 30% Div 293 surcharge applies to high earners.

FHSS calculator

First Home Super Saver — up to $50K released for a deposit.

Age Pension calculator

Income test + assets test + deeming — see which one binds.

Deeming calculator

Deemed income at the 20 Sep 2026 rates, and what the rise did to your pension.

SMSF setup cost calculator

Fixed SMSF costs vs percentage fund fees — find the break-even balance.

SMSF pension phase calculator

Minimum drawdown + tax-free earnings for SMSF retirees.

Transition to retirement calculator

From 60: a tax-free TTR pension plus salary sacrifice, or fewer hours on the same pay.

Non-concessional contributions calculator

The $130,000 after-tax cap and the bring-forward rule: up to $390,000 at once, by super balance.

SMSF property borrowing checker

The LRBA ban is in force — are you grandfathered, and what can the fund still borrow for?

Average super by age

Compare your balance to Australians your age (ATO data).

Super Snapshot

Get your Super Score and a retirement projection.

Superannuation guide

SG rate, caps, salary sacrifice, finding lost super.

9 common super mistakes

Default option, lost super, beneficiary nominations — fixes for each.

Super depletion factors

APRA minimum drawdown, actuarial multipliers, and Safe Withdrawal Rate — three frameworks explained.

Payday Super 2026

ATO super payment changes effective 1 July 2026 — paid with each wage cycle, not quarterly.

❓ Frequently Asked Questions

What are the minimum super drawdown rates in Australia?

The minimum pension drawdown rates for account-based pensions are set by your age at 1 July each financial year: under 65: 4%, 65–74: 5%, 75–79: 6%, 80–84: 7%, 85–89: 9%, 90–94: 11%, 95+: 14%. These are minimums — you must withdraw at least this percentage of your 1 July account balance each year, but there is no maximum.

The COVID-era 50% reduction has been fully unwound, so the standard rates above are the ones that apply in 2026-27.

How long will my super last in retirement?

It depends on your balance, your spending, your investment return and whether you receive the Age Pension. Modelled on this page at a 5% return with no Age Pension: $300,000 spending $45,000 a year lasts about 7 years; $500,000 spending $50,000 lasts about 13 years; $750,000 spending $60,000 lasts about 18 years; and $1,000,000 spending $70,000 lasts about 23 years.

The Age Pension changes the picture completely, because it covers a fixed slice of your spending for life — with it, a $500,000 balance supporting $50,000 of spending stops depleting altogether in this model. That is why the honest answer to 'how long will my super last' is almost always longer than people fear, provided they qualify for at least a part pension.

Are 'aged pension drawdown rates' the same as minimum pension drawdown rates?

No, and the two get confused constantly. The MINIMUM PENSION DRAWDOWN rates (4% to 14% by age) are the percentage of your account-based pension balance you must withdraw from your own super each year — they are rules about your money.

The AGE PENSION is a government payment from age 67, subject to an assets test and an income test, with a maximum, from 20 September 2026, of A$1,237.70 a fortnight for a single person and A$933.00 each for a couple. Your super balance affects your Age Pension through the assets test, and the minimum drawdown affects how fast that balance falls, but the drawdown percentages themselves have nothing to do with what Services Australia pays you.

Do the minimum drawdown rates change each year?

The percentages themselves have not changed since the temporary COVID-19 relief ended — the standard 4%/5%/6%/7%/9%/11%/14% schedule applies in 2026-27 as it did the year before. What changes every year is the dollar amount, because the minimum is recalculated on your account balance at 1 July and your age bracket moves as you get older.

So a rising balance or a birthday that crosses 65, 75, 80, 85, 90 or 95 will lift your required withdrawal even though the rate table is unchanged. If you start a pension part-way through a year, the first year's minimum is pro-rated by the number of days remaining.

What is the Age Pension and who is eligible?

The Age Pension is a government payment available from age 67 for Australians who meet both the assets test and the income test — Services Australia applies whichever produces the lower payment. From 20 September 2026 the maximum single rate is A$1,237.70 a fortnight, about $32,180 a year, and the maximum couple rate is A$933.00 each, about $48,516 a year combined; both figures include the pension and energy supplements.

Rates are indexed again on 20 March 2027. Your super counts as an asset once you reach Age Pension age, so a large balance reduces or removes the payment.

Should I draw down super or other investments first?

Generally, financial planners suggest drawing from taxable investments first and preserving super, because super earnings in pension phase are tax-free. However, the optimal strategy depends on your individual tax position, Age Pension eligibility, and when you need the money.

Always consult a licensed financial adviser for personalised drawdown strategy.

What happens if I draw down more than the minimum?

You can withdraw as much as you like from your super pension account — there is no maximum. However, drawing more than necessary can erode your balance faster and potentially reduce your Age Pension eligibility.

The minimum drawdown rates ensure you are gradually converting your super into retirement income.

richify.ai

Your personal AI for understanding and tracking your personal finance.

Explore Richify

Calculators

Net worth & benchmarks

Super & retirement

Tax

Property

Learn & compare

Keep your drawdown up to dateTrack my drawdown

Free to download · 7-day free trial

Track my drawdownTrack