• Personal
  • Employers
  • Advisers
  • Calculators & forms
  • News Hub
  • Contact us
QSuper QSuper
  • Products
    • Why QSuper
    • Can I join QSuper
    • Investment options
    • Fees
    • Financial advice
    • Compare us
    • Insurance
    • Account types
      • Accumulation account
      • Transition to Retirement Income account
      • Retirement Income account
      • Lifetime Pension
      Why QSuper?

      A focus on long-term performance

      More reasons to feel good
  • Super
    • Grow your super
      • Salary sacrifice
      • Super co-contribution
      • Voluntary contributions
      • Spouse contributions
      • Contribution caps
      • Tax deductions
    • Self-Managed Super Funds (SMSFs)
    • Consolidate your super
    • Find your lost super
    • Changing jobs
    • Nominate beneficiaries
    • Early access
      • Claim a death benefit
    • Seminars and education
  • Retirement
    • Why retire with QSuper
    • Retirement accounts
      • Transition to Retirement Income account
      • Retirement Income account
      • Lifetime Pension
    • Retirement planning
      • Make your super last in retirement
      • The Age Pension and Super
    • How much super do you need to retire
    • Access your super
      • When can you access your super
      • Proof of identity
      • Withdraw your super
    • Seminars and education
      Award-winning

      Our Lifetime Pension won Canstar's Innovation Excellence Award 2023

      Find out more
  • Investments
    • Investment options
      • Lifetime
      • Diversified and asset class
    • Performance
      • Overview
      • Graphs
      • Unit prices
    • Online investment advice
    • Change your investment options
    • How QSuper invests
    • Investing your super
  • Insurance
    • Insurance options
      • Income protection
      • Total & permanent disability cover
      • Death cover
    • How much insurance cover do you need
    • Change or cancel your insurance
    • Make an insurance claim
      • Death benefit claims
  • Advice
  • Calculators & forms
  • News Hub
  • Contact us
Join
  • Call
Join Log In - Open navigation
Member Online
Currently unavailable

Due to required maintenance, Member Online will be unavailable from 9:00 pm, Friday 9th May until 12:00 pm, Saturday 10th May. We apologise for any inconvenience.

Navigation

QSuper
  • Personal
  • Employers
  • Advisers
  • Search
  • Join Log In
  • Products Expand
    • Why QSuper
    • Can I join QSuper
    • Investment options
    • Insurance
    • Fees
    • Financial advice
    • Account types Expand
      • Accumulation account
      • Transition to Retirement Income account
      • Retirement Income account
      • Lifetime Pension
    • Compare us
  • Super Expand
    • Consolidate your super
    • Grow your super Expand
      • Salary sacrifice
      • Super co-contribution
      • Voluntary contributions
      • Spouse contributions
      • Contribution caps
      • Tax deductions
    • Find your lost super
    • Changing jobs
    • Nominate beneficiaries
    • Early access Expand
      • Claim a death benefit
    • Seminars and education
    • Self-Managed Super Funds (SMSFs)
  • Retirement Expand
    • Why retire with QSuper
    • Retirement accounts Expand
      • Transition to Retirement Income account
      • Retirement Income account
      • Lifetime Pension
    • How much super do you need to retire
    • Retirement planning Expand
      • Make your super last in retirement
      • The Age Pension and Super
    • Access your super Expand
      • When can you access your super
      • Proof of identity
      • Withdraw your super
    • Seminars and education
  • Investments Expand
    • Performance Expand
      • Overview
      • Graphs
      • Unit prices
    • Investment options Expand
      • Lifetime
      • Diversified and asset class
    • Online investment advice
    • Change your investment options
    • How QSuper invests
    • Investing your super
  • Insurance Expand
    • Insurance options Expand
      • Income protection
      • Total & permanent disability cover
      • Death cover
    • How much insurance cover do you need
    • Change or cancel your insurance
    • Make an insurance claim Expand
      • Death benefit claims
  • Advice
  • Your account Expand
    • Super Expand
      • Transactions
      • Statements and History
      • Consolidate
      • Add to Super in Retriement
      • Investments
      • Performance
      • Financial Advice
      • Insurance
    • Profile Expand
      • Personal details
      • Security
      • Authorities
      • Employer
      • Beneficiaries
    • More Expand
      • Contact us
  • Calculators & forms Expand
    • Superannuation & Retirement Calculators Expand
      • Super and retirement planning calculators
      • Retirement planning
      • Insurance
      • Maximise your super
      • Savings
      • Investing
    • Forms Expand
      • All
      • Forms for claims, withdrawals, and transfers out
      • Forms for deposits, contributions and transfers in
      • Insurance forms
      • Investments
      • Transfer
      • Other forms
    • Publications Expand
      • PDS
      • Guides
      • Annual reports
      • Factsheets
      • Other publications
      • Target Market Determination
  • News Hub Expand
    • Category Expand
      • News
      • Superannuation
      • Retirement
      • Finances
      • Investments
      • Community
      • Wellbeing
      • Employer
  • Contact us Expand
    • Email QSuper
    • Language assistance
    • Browser support
    • Formal enquiries and complaints
    • FAQs – Frequently Asked Questions

News Hub

All Articles News Superannuation Retirement Finances Investments Community Wellbeing
News Hub Superannuation

How much super should I have?

Superannuation Finance
11 September 2024 5 min read

The average super balances for Australians at different ages may be one way to compare how much super you should have and how confident you can be about readiness for retirement.

How much super do you need?

The Association of Superannuation Funds of Australia (ASFA) has created a Retirement Standard to help give you a clearer understanding of what retirement lifestyle your savings may give you.

It is updated quarterly to reflect inflation and provides detailed budgets of what singles and couples would need to spend to support their chosen lifestyle.

ASFA’s June quarter 2024 figures suggest that single people will need $52,085 in retirement savings per year for a “comfortable retirement”, and couples will need about $73,337 per year.1

To retire modestly, the ASFA June quarter 2024 figures suggest that single people aged about 65 will need about $33,134 a year and couples will need about $47,731 per year.

To achieve a comfortable retirement, ASFA calculates the amount of savings required by retirement at age 67 are around $595,000 for a single person and $690,000 for a couple.

How much super do most people have?

The Australian Bureau of Statistics has published the average superannuation balances of Australians across age brackets.2

Here’s the average super account balance for Australians at each age:

Age Average balance (men) Average balance (women)
15 to 24 years $6,500 $5,100
25 to 34 years $42,100 $34,500
35 to 44 years $107,700 $76,900
45 to 54 years $219,300 $136,000
55 to 64 years $326,200 $246,300
65 to 74 years $435,900 $381,700
75 years and over $370,900 $314,100

Source: Australian Bureau of Statistics, Gender Indicators Australia, accessed 20 August 2024.

How much super should you have?

While it's helpful to see how average super balances compare, it's important to remember that many Australians' super balances are falling behind what they should be.

Websites like Super Guru show the estimated super balance you should have at each age to help you achieve the savings required for a comfortable retirement.

Here's the super balance to aim for at each age:3

25 years old $18,500
30 years old $59,000
35 years old $101,500
40 years old $156,000
45 years old $213,000
50 years old $281,000
55 years old $361,000
60 years old $453,000
65 years old $549,000

Source: Super Guru, Super Balance Detective, accessed 20 August 2024.

Ways to grow your super

If your super balance is falling short of your expectations, there are still plenty of ways to help grow your super. These include:

  • Consolidate super accounts4
    Finding and consolidating lost super into one account could save you money on fees and help your retirement funds grow. We aim to make it easy to search for lost or forgotten super and combine it into one account through Member Online.
  • Salary sacrifice to your super
    Paying money into your super from before-tax salary means less income tax while you grow your retirement savings.
  • Make voluntary contributions
    Even small amounts from your after-tax pay each week or month may make a big difference to your savings, and you may be eligible for a tax deduction.
  • Top up your spouse's super
    Contributing to a spouse’s super could attract a tax offset of up to $540. (Eligibility and conditions apply.)
 
icon

Start your search

Look for lost or unclaimed super through Member Online

 


1. Association of Superannuation Funds of Australia, Retirement Standard June 2024, at superannuation.asn.au/resources/retirement-standard
2. Australian Bureau of Statistics, 28 April 2022, Household income and wealth 2019-20, Table 12.3 superannuation account balances, at www.abs.gov.au, accessed 20 August 2024.
3. Figures are calculated using the Super Guru Super Balance Detective calculator. Accessed 20 August 2024.
4. Before you consolidate your super, you should check with your other super funds about any fees or loss of insurance or other benefits. You should also consider any other individual circumstances at the time.

Related Content
Grow your Super 5 actions you could take now to help grow your super
01 Dec 5 MIN READ

You could feel more in control of your future in 2022 with these 5 simple actions.

Read more
Finance Superannuation
IF YOU ENJOYED THIS ARTICLE, YOU MIGHT ALSO LIKE...
Grow your Super 5 actions you could take now to help grow your super
01 Dec 5 MIN READ

You could feel more in control of your future in 2022 with these 5 simple actions.

Read more
Finance Superannuation
banner Consolidating your super can be quick and easy
01 Dec 5 MIN READ

You might make life easier by finding and consolidating your super through Member Online.1

Read more
Finance Superannuation
Super changes Changes to super from 1 July 2025
07 May 4 MIN READ

There are a range of changes to your super from 1 July. Find out more about what it means for you.

Read more
Finance Investments Superannuation
Claiming a super tax deduction Claiming a super tax deduction
01 May 3 MIN READ

Adding after-tax money to your super might do more than boost your retirement savings. It may also help you save at tax time.

Read more
Finance
All Articles News Superannuation Retirement Finances Investments Community Wellbeing
  • Our products
    • Why QSuper?
    • Investment options
    • Fees
    • Insurance
    • Financial advice
  • Super & retirement
    • How much do you need?
    • Grow your super
    • Consolidate
    • Changing jobs
    • Seminars
    • Access your super
  • Investments
    • Performance
    • Unit prices
    • Graphs
  • Calculators & Forms
    • Calculators
    • Forms
    • Publications
    • PDSs
    • TMDs
    • Member Outcomes Assessment
  • Contact us
    • 1300 360 750
      Mon-Fri 8.00am to 6.00pm AEST
  • About us 
  • Careers 
  • Sitemap 
  • Privacy 
  • Security 
  • Disclaimer 
  • Terms and conditions 
  • Disclosure 
  • MySuper product dashboard 
We're part of Australian Retirement Trust
2020 awards
Facebook LinkedIn YouTube

The information on this website contains general information only. It doesn’t consider your personal objectives, financial situation, or needs. Before making any decisions about QSuper, you should read the relevant Product Disclosure Statement (PDS) and Target Market Determinations (TMD) to consider whether the product is right for you.