At age 40, the recommended superannuation balance to be on track for a comfortable retirement is around $168,000 according to the Association of Superannuation Funds of Australia (ASFA) benchmark. In real terms, the average super balance for Australians aged 40-44 is lower, with men averaging around $131,792 and women around $102,227. Experts suggest aiming for about two times your annual salary in super by age 40. For example, if earning $90,000, a super balance near $180,000 would be a good target to stay on track for retirement. This balance supports a comfortable lifestyle covering health insurance, home repairs, social activities, and more. If current savings are lower than these benchmarks, there is still time to improve superannuation balances through increased contributions, salary sacrifice, and investment growth before retiring (age 67). The power of compounding over the next two decades can significantly grow savings if contributions are maintained or increased.
Summary Figures at Age 40
Category| Amount
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Recommended for comfort (ASFA)| $168,000
Average male balance| $131,792
Average female balance| $102,227
Goal (2x annual salary e.g. $90K)| ~$180,000
These amounts provide a guideline for what is considered on track and the gap for many people currently, highlighting the importance of consistent saving and review of super contributions by age 40.
