3 big retirement changes you need to know (plus your 5-step retirement plan)
Australian Finance Podcast
Translating lumps into annual income needs
Gemma details the annual income equivalents for comfortable singles and couples and lifestyle inclusions.
We are only a couple of months into 2026 and we’ve already seen significant retirement changes announced. These updates could directly impact your super, Age Pension eligibility and contribution strategy.
In this Australian Finance Podcast episode, your host Gemma Mitchell is joined by James O’Reilly- co host on the Australian Retirement Podcast and financial adviser at Northeast Financial Wealth, go through three big retirement changes you need to know in 2026 — and then take you through your practical 5-step retirement checklist.
If you like this Australian Finance Podcast episode, you'll love our series. Don't forget to subscribe for weekly shows on Apple, Spotify, YouTube, or wherever you get your podcasts!
Follow us on Instagram and TikTok for more everyday money tips.
Topics Covered
– 3 Big Retirement Changes in 2026
1) ASFA Retirement Standard Update
This is the first time ASFA’s lump sum figures have increased in three years.
New lump sum targets (homeowners aged 67):
– $630,000 for singles (up from $595,000)
– $730,000 for couples (up from $690,000)
Annual income benchmarks:
– Comfortable Couple: ~$77,375 per year
– Comfortable Single: ~$54,840 per year
– Modest Couple: ~$51,299 per year
– Modest Single: ~$35,503 per year
More detail here
2) Age Pension Changes – Payment Rates, Deeming & Asset Limits
Check for updates here from March 20th
3) Super Contribution Caps Increasing (From 1 July 2026)
– Concessional cap increases from $30,000 to $32,500 per year
– Non-concessional cap increases from $120,000 to $130,000 per year
– General transfer balance cap increases from $2 million to $2.1 million
Key areas discussed:
- ASFA Retirement Standard benchmarks
- Age Pension deeming rates and asset test limits
- Super contribution caps and carry-forward rules
- Transfer balance cap explained
- How to build a retirement income plan (5 steps)
Free Resources:
Check out the free Rask Retirement Academy
Check how your super is tracking with the Rask Super Checker Tool
Buy Gemma’s book “The Money Reset”
Ask a question (select the Finance podcast)
Show partner resources
Join Pearler using code “RASK” for $15 of Pearler Credit
Get 50% off your first two months using PocketSmith
View Betashares range of funds
Rask resources
Follow us on social media:
Instagram: @rask.invest
TikTok: @rask.invest
DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg
Learn more about your ad choices. Visit megaphone.fm/adchoices
The AI-powered Podcast Player
