The ideal superannuation balance depends on age, lifestyle goals for retirement, and when one plans to retire. Here are some average and guideline balances for Australians aiming for a comfortable retirement by age 67, based on recent data and projections:
- At age 25: Around AUD 26,000
- At age 30: Around AUD 66,500
- At age 35: Around AUD 111,500
- At age 40: Around AUD 168,000
- At age 45: Around AUD 226,000
- At age 50: Around AUD 296,000
- At age 55: Around AUD 377,000
- At age 60: Around AUD 469,000
- At age 65: Around AUD 571,000
These figures are averages for a retirement lifestyle considered comfortable by the Association of Superannuation Funds of Australia (ASFA), which includes private health insurance, holidays, social outings, and home maintenance. The actual needed balance varies with individual circumstances and desired lifestyle. Many Australians fall behind these targets and may need to consider additional contributions to catch up. In addition, average super balances currently seen at retirement age (65+) are approximately AUD 360,000 for men and AUD 290,000 for women, but the comfortable retirement target is higher. Contributions by employers are currently set at 12% of salary (Super Guarantee rate). Taking steps like salary sacrificing extra funds into superannuation can help accumulate a more desirable balance. For exact personal planning, there are online superannuation calculators and professional financial advice is recommended. This guidance is relevant in the context of Australian superannuation rules as of 2025.
