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How much super should I have right now?

A sufficient super balance is key to being able to live the life you want in retirement. However, if you’re like many Australians, it can be hard to know whether your super is on track or how much super you should have at your age.

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3 minute read

How does your super compare to the average super balance?

To compare your super balance, the Association of Superannuation Fund of Australia (ASFA) has provided the average super balance for Australian men and women of different ages..

Table 1: Superannuation balances by age and gender, 2016-2017

Age Male
Average account balance $
Female
Average account balance $
under 18 11,932 8,172
18-24 7,694 6,542
25-29 24,051 20,523
30-34 46,974 38,731
35-39 73,985 58,729
40-44 106,187 79,709
45-49 144,216 104,648
50-54 189,211 136,148
55-59 263,996 192,378
60-64 336,360 277,880
65-69 392,805 349,947

Source: Association of Superannuation Funds of Australia, Better Retirement Outcomes: a snapshot of account balances in Australia July 2019.

If your balance is lower than the average

There are a number of valid reasons why your super balance may be lower. Particularly for women, who may have taken career breaks to have and raise children, their balance may be lower as a result.

Read our article on the superannuation gender gap and how you can bridge it

For others, they could have taken a break from work to study, travelled overseas or perhaps they worked part-time or simply earned a lower salary. Whatever the reason, there are always a few simple steps you can take that can help increase your super balance so that you will have more superannuation savings in retirement.

Top ways to boost your super:

  • Find lost super
  • Consolidate multiple super accounts
  • Salary sacrifice through your employer
  • Voluntary contributions
  • Spouse contributions
  • Government co-contributions (for those on a lower incomes)

For more details on each of these, visit our article on 6 ways to grow your super balance.

How to grow your super balance

If you’re super balance is higher than the average

Even if your super balance is above the average, it’s never too early, or too late, to give it an additional boost. After all, small contributions made now can make a big difference to your overall balance in retirement.

Case Study

Lauren is a 36 year old and earns $90,000 a year. She is receiving her standard 9.5% Superannuation Guarantee contributions from her employer. To boost her super balance, she has decided to salary sacrifice $100 per month. This will result in an extra $46,100 in today’s dollars when she retires at age 67.

For more information, visit our superannuation contributions calculator page.

Need more help? Call us on 13 11 85 to speak to a qualified financial advisor.



The information contained on this website is general information only and does not take into account your individual objectives, financial circumstances or needs. You should consider your own objectives, financial circumstances and needs, before making a decision about the financial product. You should consider the Product Disclosure Statement before deciding whether to acquire, or continue to hold the product. For more information or financial advice from Sunsuper, call us on 13 11 84.

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