How much super should I have?
Compare your super balance against the average balance for your age, plus tips to boost your balance if you're not on track.
What's the average super balance?
The average super balance for men over 15 is $182,667 and $146,146 for women. This is according to the Association of Superannuation Funds of Australia (ASFA). But the median balance is much lower, at $66,159 for men and $52,075 for women.
The median figure is more useful here because it smooths out the impact of people with very high super balances and gives a more realistic picture.
AFAS's data looks at the average super balance for people with super across all age groups. Your own super balance could look very different.
Median super balance for each age group
| Age Range | Median Balance (Male) | Median Balance (Female) |
|---|---|---|
| Under 18 | $289 | $185 |
| 18–24 | $4,617 | $4,275 |
| 25–29 | $17,545 | $17,840 |
| 30–34 | $39,796 | $34,327 |
| 35–39 | $70,181 | $54,391 |
| 40–44 | $101,231 | $74,066 |
| 45–49 | $133,616 | $93,471 |
| 50–54 | $162,146 | $111,063 |
| 55–59 | $186,255 | $128,675 |
| 60–64 | $205,385 | $153,685 |
| 65–69 | $206,091 | $191,475 |
| 70–74 | $200,349 | $198,005 |
| 75 or more | $166,185 | $161,201 |
Average super balance for men and women based on different age groups, according to ASFA as of September 2024.
Finder survey: How much money would Australians like to have at retirement?
| Response | |
|---|---|
| 1000000 | 24.51% |
| 500000 | 17.52% |
| 2000000 | 8.96% |
| 100000 | 4.33% |
| 1500000 | 3.94% |
| 10000000 | 3.44% |
| 300000 | 3.25% |
| 50000 | 3.15% |
| 200000 | 2.76% |
| 5000000 | 2.66% |
| 3000000 | 2.46% |
| 400000 | 2.46% |
| 800000 | 2.46% |
| 600000 | 2.17% |
| 750000 | 2.17% |
| 250000 | 1.87% |
| 700000 | 1.77% |
| 150000 | 1.08% |
| 900000 | 0.79% |
| 2500000 | 0.59% |
| 350000 | 0.59% |
| 1200000 | 0.49% |
| 60000 | 0.49% |
| 4000000 | 0.39% |
| 450000 | 0.39% |
| 80000 | 0.39% |
| 550000 | 0.3% |
| 650000 | 0.3% |
| 850000 | 0.3% |
| 999999 | 0.3% |
| 1600000 | 0.2% |
| 240000 | 0.2% |
| 70000 | 0.2% |
| 7500000 | 0.2% |
| 8000000 | 0.2% |
| 9000000 | 0.2% |
| 99999 | 0.2% |
| 1050000 | 0.1% |
| 1250000 | 0.1% |
| 1300000 | 0.1% |
| 180000 | 0.1% |
| 1900000 | 0.1% |
| 1999999 | 0.1% |
| 2000082 | 0.1% |
| 200500 | 0.1% |
| 2100000 | 0.1% |
| 3500000 | 0.1% |
| 3600000 | 0.1% |
| 375000 | 0.1% |
| 4000001 | 0.1% |
| 425000 | 0.1% |
| 500009 | 0.1% |
| 6000000 | 0.1% |
| 600900 | 0.1% |
| 65000 | 0.1% |
| 670000 | 0.1% |
| 87000 | 0.1% |
| 89000 | 0.1% |
| 90000 | 0.1% |
| 950000 | 0.1% |
| 980000 | 0.1% |
Source: Finder survey by Pure Profile of 1016 Australians, December 2023
How to check your current super balance
There are 2 ways to check your super balance:
- Via myGov. If you've got an online myGov account you can see your current super balance under the ATO portal after you log in. It'll also list the super fund or funds you have open in your name.
- Via your fund. You should receive an annual statement from your fund around July with your balance details. You can also log in to your member account on your fund's website or using the mobile app if it has one to see your most up-to-date balance.
How much super do I need to have for a comfortable retirement?
The median super balance for those of retirement age (65–69) is $205,385 for men and $153,685 for women.
According to the latest retirement standard by ASFA you need a balance of $595,000 (or $690,000 for couples) to have a comfortable retirement.
The amount of super you need for a comfortable retirement depends on your age. If you're targeting a balance of $595,000 for a comfortable retirement you'd need to have $270,000 in super at age 50 for example.
ASFA estimates you'd need to spend around $51,805 per year in retirement to live comfortably (or $73,077 for couples). This also assumes you own your own home – if you don't, you'll need more money in super.
ASFA says you need to have $100,000 saved to fund a modest retirement. This would also be used in conjunction with the aged pension.
Comfortable vs modest retirement
Here's a brief overview of what the ASFA Retirement Standard considers to be a modest retirement versus a comfortable retirement.
| Modest retirement | Comfortable retirement | |
|---|---|---|
| Leisure activities |
|
|
| Utilities and services |
|
|
| Personal items |
|
|
Is your super on track for retirement?
It's hard to tell if your super is on track for a comfortable retirement just by looking at the lump sum balance you'll need. If you're still in your 20s or 30s, being told you need a balance of more than $500,000 at retirement to live comfortably is probably a bit hard to imagine right now.
Your super benefits from compound growth over many years. What looks like a small balance now will continue to grow and actually be worth a lot more by the time you retire. And the more your balance grows, the more you'll benefit from compound growth.
The table below shows the average balance needed for each age group, in order to be on track to reach the retirement target set out by ASFA. As you can see, every age group is below target on average.
How much super do you need for a comfortable retirement by age?
Suggested Super Balance: $0
Adjust the slider by age to see your recommended super balance needed to retire at the "comfortable retirement level" of $595,000 by age 67.
Men's vs women's super balances
As you can see in the table at the top of this page, men have larger super balances on average across all age groups. For under-30s, men have around 14% more super than women. But after age 30, the gap between men's and women's super balances continues to widen.
At age 30–34, men have on average 21% more super than women in the same age group. By age 50–54, that increase jumps to 37%.
There are a few reasons for this gap. Firstly, super is paid as a percentage of your earnings and men, on average, earn more than women. When comparing the weekly earnings of men working full-time against women working full-time, men are earning 13.8% more, according to the government's Workplace Gender Equality Agency.
Another reason for the super gap is that super isn't generally paid while you take time out of the workforce. With women still being far more likely to take time out of the workforce to raise kids, it means they're also more likely to miss out on super payments during this time compared to men.
How to grow your super if it's not on track
If your balance is a bit behind the average there are a few things you can do to help it grow:
- Consolidate funds. Check if you've got more than one super fund open in your name by looking at your myGov account linked to the ATO. If you do, consolidate them so your super is all in one place and you're not paying multiple sets of fees.
- Make additional contributions. If your income and budget allows for it, consider making additional voluntary super contributions either by direct bank transfer or by setting up a salary sacrifice arrangement with your employer. This will really give your balance a boost, plus there are tax benefits too.
- Look at your investment option. Most funds offer a high-growth option as an alternative to their default balanced option. High-growth options invest more of your balance into shares, which generally achieve higher returns over the long term (although they also attract more volatility in the short term).
- Compare your fund. Compare your super fund with others in the market and make sure you're in a low-fee, high-performing fund. The less you pay in fees, the more you'll get in returns. And the better your returns are, the more your balance will benefit from compound returns and continue to grow.
"I have a very simple rule of thumb when it comes to my desired super balance - as much as possible. I want to live a life that's rich; rich in choice, rich in options. Use all the opportunities for free money into your super available to you, including the government co-contribution (if you're not working) and Grow My Money (even if you are)."
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How we picked theseFinder Score for super funds
Finder Score makes comparing superannuation products easier by scoring products out of 10 after assessing their performance, fees and features.
We assess products from over 40 providers based on their risk profile.
The information in this table is based on data provided by SuperRatings Pty Limited ABN 95 100 192 283, a Corporate Authorised Representative (CAR No.1309956) of Lonsec Research Pty Ltd ABN 11 151 658 561, Australian Financial Services Licence No. 421445. In limited instances, where data is not available from SuperRatings for a product, the data is provided directly by the superannuation fund.
*Past performance data and fee data is for the period ending March 2025
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i have been with my boss for 11 year and i only have 10000 in my super is this right my wage was 1165 week
Hi Trevor,
We won’t be able to say whether or not your super balance is correct. It depends on a number of factors like your annual income, your fund’s fees and returns and whether or not you’re also paying insurance inside your super.
As a first step I’d suggest checking the contributions from your employer to see if you were getting paid the right amount of the super guarantee (this is currently 11.5% of annual income however this has been gradually increasing over the last 5 years).
If you feel you’ve not been paid correctly you should speak to your employer directly or to the ATO.
Thanks,
Alison