There are a couple of ways you can check if your super is on target, such as comparing your super balance with the average of other people of the same age, or by looking at the estimated balance you should have at each age to achieve a comfortable retirement.
Average super balances for Australians by age
The Australian Bureau of Statistics (ABS) has worked out the average super balance for each age group, which you can use as a guide to see how your balance compares.
This table shows the average super balances for both Australian men and women by age.1 Keep in mind that women have less average superannuation balances than men for a combination of reasons.
||Average balance (men)
||Average balance (women)
|15 to 24 years
|25 to 34 years
|35 to 44 years
|45 to 54 years
|55 to 64 years
|65 to 74 years
|75 years and over
How much super you should have at your age
While it's helpful to see how your super balance compares to your peers, for a more accurate target, websites like Super Guru show the estimated super balance you should have at each age to make sure you can live a comfortable retirement.
Here's what super balance you should be aiming for based on your age, using the Super Guru Super Balance Detective Calculator. This is the approximate amount a person should have in superannuation now to reach the ASFA Comfortable Standard balance by age 67.
|25 years old
|30 years old
|35 years old
|40 years old
|45 years old
|50 years old
|55 years old
|60 years old
|65 years old
How much super should I have at my age?
Get an idea of the kind of retirement you are likely to have by looking at your super balance now. We run you through the key figures.
How much super will I have when I retire?
You can use our Super Projection Calculator to estimate how much super you'll have by the time you retire. We also have some other calculators that may be helpful to you when planning ahead.
How much super should you have at your age?
Estimate whether you're on track to live the lifestyle you want in retirement.
Factor in how long you're likely to live when working out how much super you'll need.
Explore how using income account and lifetime pension products may work for you.
If your balance is lower
To feel more confident about your financial future, you might consider making additional contributions or regularly salary sacrificing.
If you're a low income earner and make voluntary after-tax contributions, you may be eligible to receive a co-contribution from the Australian Government.
Grow your super
If your balance is on track
Keep in mind that the figures above should only be used as a guide and how much you should have will depend on your personal goals and circumstances.
A financial adviser can work with you to get more from your super account today, so you can feel confident you are on track to live the lifestyle you want in retirement.
What you can do today to grow your balance
Here are a few simple things you can do to help give your account balance that extra boost.
Combine your super accounts
Combine your multiple super accounts to avoid paying multiple fees. If you are a QSuper member, simply log in to Member Online
and enter your other super fund details.
Maximise your contributions
Some employers may pay super at a higher rate, or will pay more if you make extra super contributions. Check with your employer directly or learn more about employer contributions
Review your super fund
How well your super fund performs and how much you are paying in fees will impact your account balance. It's worth taking the time to see how your super fund measures up and moving your money to the best super fund
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