Retirees’ living costs rise, but there are ways to improve your lot

With inflation eating into the cost of living, it's time to re-evaluate your super. Photo: Getty

Inflation is eroding the incomes of retired Australians with the costs of a comfortable retirement rising 6.7 per cent for a single person and 6.6 per cent for a couple in the year to September 30, according to the Association of Superannuation Funds of Australia (ASFA).

But while that’s not great news for retirees, those living costs rose less than the consumer price index which was up 7.3 per cent for the same period.