Understanding the average superannuation balance by age in Australia helps you benchmark your own progress toward retirement. Data from the Australian Taxation Office (ATO) and the Australian Prudential Regulation Authority (APRA) show significant variation by age, gender, and income — and underscore that many Australians retire with less super than recommended.
Average Super Balance by Age — Australia
The following figures are based on ATO and APRA super data. Exact figures are updated periodically — always check the ATO or APRA for the latest releases.
| Age group | Average balance (all) | Average — men | Average — women |
|---|---|---|---|
| 25–29 | ~$22,000 | ~$22,500 | ~$21,500 |
| 30–34 | ~$45,000 | ~$49,000 | ~$40,000 |
| 35–39 | ~$75,000 | ~$84,000 | ~$66,000 |
| 40–44 | ~$115,000 | ~$134,000 | ~$97,000 |
| 45–49 | ~$170,000 | ~$200,000 | ~$140,000 |
| 50–54 | ~$235,000 | ~$285,000 | ~$190,000 |
| 55–59 | ~$310,000 | ~$390,000 | ~$240,000 |
| 60–64 | ~$380,000 | ~$480,000 | ~$290,000 |
| 65–69 | ~$360,000 | ~$450,000 | ~$275,000 |
These are approximate figures based on recent ATO data. They represent averages across all account holders, including those with very high and very low balances. Median balances are typically substantially lower.
Why Average vs Median Matters
Super balances are skewed by high-balance outliers — a relatively small number of people with very large super balances pulls the average up significantly. The median super balance (the midpoint) is typically 30–50% lower than the average.
This means the “average” Australian super balance is higher than what most people actually have. If your balance is at or above the median, you are doing better than the majority of Australians in your age group.
The Gender Super Gap
The data reveals a substantial and persistent gender gap in superannuation. Women on average retire with significantly less super than men, due to:
- Career breaks for caring responsibilities (parenting, elder care) — time out of the workforce means missing employer contributions
- Part-time work — lower income → lower compulsory super contributions
- Pay gap — lower average earnings lead to lower percentage-based contributions
- Longer life expectancy — women live longer on average but accumulate less
The gender super gap at retirement age is typically 20–40%. This is a recognised policy concern addressed through measures like super on parental leave (paid parental leave now attracts super contributions).
Are You On Track?
Benchmarks for a comfortable retirement (ASFA standard, single homeowner) suggest needing approximately $595,000 by age 67. Compare this to the ages above:
- At age 40, you might need ~$130,000–$170,000 to be on track
- At age 50, you might need ~$270,000–$340,000
- At age 60, you might need ~$470,000–$590,000
If your balance is below these ranges, consider:
- Salary sacrifice contributions
- Catch-up concessional contributions
- Reviewing your super fund’s investment option (growth vs balanced)
- Using the ATO’s MySuper comparison tool and ASIC’s MoneySmart retirement planner
Median Account Balance vs Average
For a more realistic picture of where most Australians stand, APRA publishes median account balance data. Median balances are roughly:
- Men at 60–64: ~$210,000–$240,000
- Women at 60–64: ~$160,000–$190,000
This reflects the reality that many Australians retire with substantially less than the ASFA comfortable standard.
Related Articles
- How Much Super Do I Need to Retire?
- Super Contribution Limits Australia
- Concessional Contributions Australia
- Catch-Up Concessional Contributions Australia
- Retirement Investing hub
Frequently Asked Questions
What is the average super balance in Australia for someone aged 50? The average super balance for Australians aged 50–54 is approximately $235,000 across all account holders. Men average around $285,000 and women around $190,000. Median balances are substantially lower.
Why is the average super balance so low? Many Australians have had periods outside the workforce, used super early (e.g., COVID early release in 2020), or have multiple small accounts from different jobs. Others entered compulsory super later (it became universal in 1992 — those now over 50 had fewer years in the system at lower employer contribution rates).
How can I check my super balance? Log in to your super fund’s online portal or app, or use the ATO’s MyGov portal (linked to your tax file number) which shows all your super accounts.
This article provides general financial information only. Superannuation data is updated periodically — always check the ATO and APRA websites for current figures. For advice tailored to your situation, speak with a licensed financial adviser through the ASIC financial advisers register or MoneySmart.