Retirement costs are climbing at their fastest rate in more than a decade, driven higher by surging fuel prices and a sharp jump in council rates and other fees.

A comfortable retirement now costs a couple $63,799 a year and a single senior $45,239, a jump of almost 3 per cent since 2020, according to a new report from superannuation industry group.

Rising global oil prices lifted fuel costs 7.1 per cent in the September quarter and 24.6 per cent annually, it found, while council rates rose an average 3.3 per cent after last year’s Covid-related rate freezes.

ASFA deputy CEO Glen McCrea said it was the biggest annual jump in retiree budgets since 2010, and many now faced “significant pressure” as it was difficult to dodge price rises in essential costs.