Cost of a comfortable retirement increases: ASFA report

According to updated national figures released on 7 January 2011 for the Westpac ASFA Retirement Standard, the aggregate costs for a couple living comfortably in retirement were up by 0.5% in the September quarter 2010, compared to the previous quarter. The figures show the annual cost for a couple to live comfortably in retirement increased in the September 2010 quarter to $53,729 ($39,302 for a single). The annual cost of a "modest" retirement lifestyle for a retired couple also increased to $30,557 a year ($21,132 for a single).

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