My wife and I are 58. I plan to transition to retirement at 60 (while working FIFO at one or two rosters a year) and my wife has already stopped work due to health.

We have no debt. My wife has super of $450,000, while I have $800,000.

At 67, we will also get a UK pension of $20,000 each a year.

How do couples work out whether to draw down on both industry super at retirement or basically drain one and then the other?

It sounds like you are in a solid position.

First, work out how much you need to live off as a couple.

I note that you will receive a UK pension each. This amount will vary depending on the exchange rate each payment. While this will affect your Australian age pension from age 67, you will probably still receive a part age pension if you meet all the residency requirements (and depending on the value of all of your assets).

It really doesn’t matter how you draw the funds out, except it would be worth moving both funds into pension phase to........

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