Check what your super balance should be now to retire comfortably. And see how your super savings compare to the average super balance by age.
What's the right amount of super?
The right amount of super for you will depend on how you want to live when you retire. Let's say you're keen for a comfortable retirement by the age of 67.
It's easy to see what your super balance should be at your age, using Super Guru's Super Balance Detective Calculator.
What does a comfortable retirement mean?
The Association of Superannuation Funds of Australia (ASFA) says a comfortable retirement lets you enjoy a good standard of living. So your retirement budget would cover:
- Private health insurance, new clothes, and a decent car
Local holidays, social outings, exercise classes
Home repairs, air conditioning, streaming services
How much super should I have at my age?
| Age (years) | Super balance |
|---|---|
| 25 | $18,500 |
| 30 | $59,000 |
| 35 | $101,500 |
| 40 | $156,000 |
| 45 | $213,000 |
| 50 | $281,000 |
| 55 | $361,000 |
| 60 | $453,000 |
| 65 | $549,000 |
Source: Super Guru's Super Balance Detective, accessed August 2024.
How much super do most people have?
The Australian Bureau of Statistics (ABS) has worked out the average super balances for each age group. Remember that many people's super balances are falling behind what they should be. See how you compare.
Worried? You're not alone
A survey of more than 6,000 Australians found many people worry about how much super they'll have for retirement.2
The survey also found:
63% of our members aren't sure they'll have enough set aside by retirement age
only 37% feel confident in their financial future
54% of members have spent time worrying about their finances at work.
But there are things you can do now to help improve your future lifestyle.
Average super balance by age
| Age | Average balance (men) | Average balance (women) |
|---|---|---|
| 15-24 | $6,500 | $5,100 |
| 25-34 | $42,100 | $34,500 |
| 35-44 | $107,700 | $76,900 |
| 45-54 | $219,300 | $136,000 |
| 55-64 | $326,200 | $246,300 |
| 65-74 | $435,900 | $381,700 |
| 75 and over | $370,900 | $314,100 |
Source: Australian Bureau of Statistics (ABS), Household Income and Wealth, Australia 2019–20. Accessed 1 March 2024.1
What you can do about your super
Log in and check your balance
Start by checking your super balance – is it where you expected it to be?
It's easy to see your details at the touch of a button. Log in to Member Online or our app to get on top of your super.
If your balance is lower
There's plenty of ways you can build up your super, like adding extra money to your account or taking advantage of government payments.
If you’re nearing retirement
Check if you can top up your retirement income with the Age Pension.
If your balance is on track
Great work on having a solid super balance already. Of course, how much you should have depends on your personal goals. So, think about whether you need to add a little extra.
Keep in mind your yearly limit for super contributions.
Need some help?
Whether you're behind or ahead, a financial adviser can help you get more from your super. Your ART membership includes advice about your super account.
Case study: Kenny salary sacrifices to his super3
Kenny's 35 years old and earns $90,000 a year. His employer pays the standard 11.5% super guarantee (SG) to Kenny's super in 2024–25.
To boost his superannuation balance, Kenny decides to salary sacrifice $100 per month.
This gives him an extra $45,000 in today’s dollars when he retires at age 67.
He could save up to $204 per year in tax.4
Contributions calculator
See how much of a difference adding extra to your super can make to your retirement.
This case study is an example only and assumes no other income or deductions. Everyone's situation is different and this may not be right for you.
FAQs about how much super you should have
Watch this video to find out how you can track your retirement goals based on your super balance.
