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Knowing how much super you have now means you can plan for how much you need to grow your super. See how your super balance stacks up against others your age, and find out whether you're on track for a comfortable balance

How much super should I have?

Find out if your retirement savings are on track.

How much super should I have?

Find out if your retirement savings are on track.

 

Knowing how much super you have now means you can plan for how much you need to grow your super. See how your super balance stacks up against others your age, and find out whether you're on track for a comfortable balance.

Average super balance by age

How much super should I have at my age?

You can check whether your balance is on track to end up with a comfortable retirement.

Here's what super balance you should be aiming for based on your age, using Super Guru's Super Balance Detective Calculator.

This is the approximate amount of super a person should have now to reach a "comfortable" retirement by age 67, according to the Association of Super Funds of Australia (ASFA).


Age (years)
Super balance
25
$24,000
30
$61,000
35
$102,000
40
$154,000
45
$207,000
50
$271,000
55
$345,000
60
$430,000
65
$523,000

Source: ASFA Retirement Standard, December 2021 quarter, accessed May 2022.

What's the average balance?

The Australian Bureau of Statistics (ABS) has worked out the average super balance for each age group, which you can use as a guide to see how your balance compares.

This table shows the average super balances for both men and women by age in 2022. Women have less super on average than men – called the gender super gap – for a combination of reasons. (There's no data provided yet on balances for non-binary people.)


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, Household Income and Wealth, Australia, 2022.

Interpreting your results

If your balance is lower

Don't feel bad if your balance is lower than you would like. There's usually something you can do to improve your future finances, such as adding extra money to your super, or receiving the government's co-contribution.

You may also be able to supplement your super with the Age Pension (if eligible). About 3 in 5 Australians over age 65 received the Age Pension in 2021 (62%, AIHW).

If your balance is on track

Congratulations on having a solid super balance already. Of course, how much you should have depends on your personal goals, so you might be able to add a little extra, keeping in mind your yearly limit for super contributions.

You can also work with a financial adviser to get more from your super and investments. So you can feel confident you're on track to live the lifestyle you want in retirement.

What if you're affected by the gender super gap?

On average, superannuation for women starts with a balance 50% lower than men's, and women retire with 23% less (ATO, 2022 ), but live 4-5 years longer in retirement (ABS, 2021). This gender super gap can be because of many reasons, such as being paid less, part-time employment, or having to take time out from the workforce as a parent or carer without receiving spouse contributions.

But there are strategies that can help you close the super gap, and you can also get financial advice through your super fund about what's best for you.

Case study: Kenny's super balance

Kenny is 36 years old and earns $90,000 a year. In 2021-22, they received the standard 10% superannuation guarantee (SG) contributions from their employer. To boost their super balance, they decide to salary sacrifice $100 per month. This will result in an extra $46,100 in today’s dollars when they retire at age 67.

For more information and how this is calculated, visit our Superannuation Contributions Calculator page.


This case study is for illustrative purposes only. Everyone's circumstances are different and this approach may not be right for you.

How much super do I have?

If you're with Australian Retirement Trust, you can log in to Member Online to check your current super balance.

Great, what should I do next?

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How much super will I have when I retire?

See how much money you could need per year to support the lifestyle you want.

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