ASFA Research and Resource Centre ASFA Retirement Standard Detailed budget breakdowns The Association of Superannuation Funds of Australia
The Association of Superannuation Funds of Australia Limited Level 11, 77 Castlereagh Street Sydney NSW 2000 PO Box 1485 Sydney NSW 2001 T F W +61 2 9264 9300 1800 812 798 (outside Sydney) 1300 926 484 www.superannuation.asn.au ABN 29 002 786 290 ACN 002 786 290 This material is copyright. Apart from any fair dealing for the purpose of private study, research, criticism or review as permitted under the Copyright Act, no part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without prior written permission. Enquiries to be made to The Association of Superannuation Funds of Australia Limited. ASFA 2015
ASFA Retirement Standard for retirees for retirees aged 65-85 Building and contents insurance $30.91 $24.47 $25.76 $24.56 Rates $36.30 $30.91 $30.91 $31.03 Home improvements $10.30 $0.00 $10.30 $0.00 Repairs and maintenance $18.03 $12.88 $15.45 $15.51 Total housing $95.53 $68.25 $82.41 $71.10 Electricity and gas $57.29 $55.29 $42.25 $41.63 Total energy $57.29 $55.29 $42.25 $41.63 Food groceries and other fresh food $198.32 $159.76 $110.18 $77.13 Total food $198.32 $159.76 $110.18 $77.13 Bundle of home phone, broadband, mobile $31.96 $15.99 $25.11 $9.13 Total communications $31.96 $15.99 $25.11 $9.13 Household cleaning and other supplies $25.72 $15.43 $18.52 $10.29 Cosmetic and personal care items $3.07 $2.95 $6.89 $1.98 Barber or hairdressing $20.58 $8.87 $14.79 $4.95 Music and CDs $2.15 $0.00 $0.32 $0.00 Newspapers and magazines $8.24 $1.91 $8.05 $2.41 Computer, printer and software $4.22 $4.22 $4.22 $4.22 Household appliances $11.81 $2.99 $10.06 $2.99 Pest control, alarm service $12.64 $0.00 $12.64 $0.00 Total household goods and services $88.43 $36.38 $75.48 $26.83 Clothing and footwear $57.43 $28.71 $38.28 $17.69 Total clothing and footwear $57.43 $28.71 $38.28 $17.69 Car transport and running costs $137.16 $91.17 $137.16 $91.17 Public transport $5.32 $5.32 $2.66 $2.66 Total transport $142.48 $96.48 $139.82 $93.83 ASFA Retirement Standard 3 of 6
ASFA Retirement Standard (continued) for retirees aged 65-85 Health insurance $82.11 $65.85 $41.78 $32.92 Chemist $24.14 $3.29 $13.32 $1.85 Co-payment and out of pocket $42.36 $12.77 $29.11 $7.66 Total health services $148.61 $81.91 $84.20 $42.44 Membership clubs $9.67 $1.94 $4.85 $0.97 TV, DVD, digital camera $1.79 $0.90 $1.79 $0.90 Alcohol consumed in home (or equivalent spent) $40.36 $15.13 $25.22 $10.09 Lunches and dinners out $80.71 $25.12 $60.30 $30.16 Cinema, plays, sport and day trips $13.53 $18.85 $6.76 $5.80 Domestic vacations $77.32 $36.72 $65.72 $18.36 Overseas vacations $54.11 $0.00 $36.72 $0.00 Sundry items $29.84 $11.59 $22.89 $7.73 Total leisure $307.31 $110.25 $224.25 $74.00 Gifts and/or alcohol or tobacco $0.00 $0.00 $0.00 $0.00 Total weekly expenditure $1,127.36 $653.04 $821.99 $453.78 Total annual expenditure $58,784 $34,051 $42,861 $23,662 Total annual expenditure (March quarter) $58,364 $33,766 $42,604 $23,469 ASFA Retirement Standard 4 of 6
ASFA Retirement Standard for retirees aged over 85 Building and contents insurance $30.91 $24.47 $25.76 $24.56 Rates $36.60 $30.91 $30.91 $31.03 Home improvements $10.30 $0.00 $10.30 $0.00 Repairs and maintenance $18.03 $12.88 $15.45 $15.51 Total housing $95.53 $68.25 $82.41 $71.10 Electricity and gas $57.29 $55.29 $42.25 $41.63 Total energy $57.29 $55.29 $42.25 $41.63 Food groceries and other fresh food $198.32 $159.76 $110.18 $77.13 Total food $198.32 $159.76 $110.18 $77.13 Bundle of home phone, broadband, mobile $31.77 $15.90 $24.96 $9.08 Total communications $31.77 $15.90 $24.96 $9.08 Household cleaning and HACC contribution $106.82 $45.84 $89.49 $30.57 Cosmetic and personal care items $3.06 $2.95 $6.89 $1.98 Barber or hairdressing $20.58 $8.87 $14.79 $4.95 Music and CDs $2.15 $0.00 $0.31 $0.00 Newspapers and magazines $8.24 $1.92 $8.05 $2.41 Computer, printer and software $4.22 $4.22 $4.22 $4.22 Household appliances $11.81 $2.99 $10.07 $2.99 Pest control, alarm service $12.63 $0.00 $12.63 $0.00 Total household goods and services $169.51 $66.79 $146.45 $47.11 Clothing and footwear $57.42 $28.72 $38.29 $17.69 Total clothing and footwear $57.42 $28.72 $38.29 $17.69 Taxis $43.91 $39.03 $39.03 $34.15 Public transport $9.76 $9.76 $4.88 $4.88 Total transport $53.67 $48.79 $43.91 $39.03 ASFA Retirement Standard 5 of 6
ASFA Retirement Standard (continued) for retirees aged over 85 Health insurance $82.11 $65.85 $41.77 $32.92 Chemist $41.70 $20.85 $22.94 $10.43 Co-payment and out of pocket $76.47 $55.62 $60.83 $48.32 Total health services $200.28 $142.32 $125.54 $91.67 Membership clubs $9.73 $1.95 $4.88 $0.98 TV, DVD, digital camera $1.80 $0.91 $1.80 $0.91 Alcohol consumed in home (or equivalent spent) $40.60 $15.22 $25.37 $10.15 Lunches and dinners out $40.60 $12.64 $30.33 $15.17 Cinema, plays, sport and day trips $6.81 $9.48 $3.40 $2.92 Domestic vacations $38.90 $18.47 $33.06 $9.24 Overseas vacations $0.00 $0.00 $0.00 $0.00 Sundry items $30.02 $11.66 $23.02 $7.78 Total leisure $168.45 $70.34 $121.86 $47.14 Gifts and/or alcohol or tobacco $0.00 $0.00 $0.00 $0.00 Total weekly expenditure $1,032.26 $656.15 $735.85 $441.59 Total annual expenditure $53,825 $34,214 $38,369 $23,026 ASFA Retirement Standard 6 of 6