Super by Age — Are You on Track?
This article provides general information only and does not constitute financial advice. For advice tailored to your situation, consult a licensed financial adviser. Learn more.
Contents
How much super you should have depends on your age, income, and retirement goals. But useful benchmarks — based on APRA data, ATO statistics, and the ASFA Retirement Standard — give you a starting point to assess whether you’re on track.
Super is a long-horizon investment. Small differences in balance at age 30 compound significantly by age 65. Understanding where you stand now — and what levers are available — is one of the most impactful financial assessments an Australian can make.
How Super Accumulates
Your super balance grows from three sources:
Employer contributions (Superannuation Guarantee): Your employer is required to pay 11.5% of your ordinary time earnings into super in FY2024–25. This rises to 12% from 1 July 2025. These contributions are taxed at 15% (or 30% for income above $250,000 under Division 293) when they enter your fund.
Voluntary contributions: You can add to super via salary sacrifice (pre-tax) or personal after-tax contributions (potentially tax-deductible). Salary sacrifice reduces your taxable income and contributes at the 15% super tax rate instead of your marginal rate — often a meaningful advantage.
Investment returns: Your super fund invests your balance in a mix of assets (shares, property, fixed income, cash). Investment returns compound over your working life. The difference between a well-performing and a poorly performing fund, over 30 years, can be tens of thousands of dollars.
Super Balance Benchmarks by Age
These figures are based on APRA median superannuation balance data and ASFA retirement modelling. Median figures represent the midpoint — half of Australians have more, half have less. A higher target assumes you are aiming for a comfortable retirement (ASFA standard ~$690,000 for a couple, ~$595,000 for a single in 2024–25).
| Age | Median balance (APRA data) | Target (comfortable retirement track) |
|---|---|---|
| 25 | ~$12,000 | ~$15,000–$25,000 |
| 30 | ~$27,000 | ~$40,000–$60,000 |
| 35 | ~$55,000 | ~$80,000–$110,000 |
| 40 | ~$95,000 | ~$130,000–$180,000 |
| 45 | ~$140,000 | ~$200,000–$270,000 |
| 50 | ~$185,000 | ~$290,000–$380,000 |
| 55 | ~$240,000 | ~$400,000–$520,000 |
| 60 | ~$280,000 | ~$520,000–$650,000 |
Median figures sourced from APRA Annual Fund-Level Superannuation Statistics (2024). Target ranges are illustrative — actual requirements vary by lifestyle, home ownership, and partner situation.
The gender gap in super is significant: women’s median balances are consistently 20–30% lower than men’s at every age bracket, driven by lower average earnings, more time out of the workforce, and lower rates of salary sacrifice. See Super and Women for specific strategies.
What Affects Your Balance at Each Age
Your 20s: Foundation years
In your 20s, your super balance will be low — this is normal and expected. The most important actions are:
- Find all your accounts: Job-hopping in early careers is common and often creates multiple super accounts with duplicate fees. Check the ATO’s MyGov portal for a list of all accounts linked to your tax file number.
- Consolidate: Merge multiple accounts into one to stop duplicate fees eroding your balance. See How to Consolidate Super.
- Choose a good fund: If you’re in a poor-performing or high-fee fund, switch. The difference between a 0.5% fee fund and a 1.5% fee fund, over 40 years, can exceed $100,000.
- Start salary sacrificing if income allows: Even $50–$100 extra per month in your 20s compounds enormously by retirement.
Your 30s: Growth years
By your 30s, super balances should be growing more meaningfully. Common challenges:
- Career breaks: Parental leave, career changes, or study periods where employer contributions stop. From 1 July 2025, government-funded Parental Leave Pay includes super — but career breaks still create gaps.
- Mortgage vs super: Both are important. Salary sacrifice into super should not necessarily be sacrificed to pay down a mortgage faster — the maths depends on mortgage rate vs expected super return.
- Insurance review: Default super insurance may become more relevant in your 30s (income protection if you have dependants or a mortgage).
Your 40s: Critical decade
The 40s are arguably the most important decade for retirement preparation. Returns are compounding on a meaningful base, and there are still 20+ years for those returns to work.
Key actions:
- Maximise concessional contributions: The annual cap is $30,000 (FY2024–25). Salary sacrificing up to this cap is one of the highest-impact financial moves available.
- Use catch-up contributions: If your balance is under $500,000, unused concessional cap from the previous 5 years can be carried forward and used in a single year.
- Consider after-tax (non-concessional) contributions: Cap is $120,000/year (or $360,000 under the bring-forward rule).
- Review your investment option: At 40, you still have a long investment horizon. Many Australians find themselves in a balanced option when a growth or high-growth option would be more appropriate.
Your 50s and 60s: Pre-retirement
The decade before retirement is a critical planning window:
- Preservation age is 60 (for those born after 1 July 1964). At 60 in retirement, all super withdrawals are tax-free.
- Transition to Retirement (TTR): From preservation age, you can start a TTR income stream while still working — allowing you to salary sacrifice more aggressively while supplementing take-home pay.
- Downsizer contributions: From age 55, if you sell your primary residence (held for 10+ years), you can contribute up to $300,000 per person into super outside the normal caps.
- Sequencing risk: The years just before and after retirement are the most vulnerable to market downturns — a significant drop near retirement can permanently impair income capacity.
Frequently Asked Questions
What if my super is well below the benchmarks? It’s not uncommon. Options to accelerate growth include salary sacrifice, after-tax contributions, consolidating to a lower-fee fund, and switching to a higher-growth investment option if your time horizon allows. If you’re within 10 years of retirement, speaking with a financial adviser is particularly valuable.
Does the ASFA retirement target assume I own my home? Yes — the ASFA Retirement Standard assumes the retiree owns their home outright. Renters in retirement need significantly more in super to cover ongoing housing costs.
What happens to super if I work part-time? Employer contributions are paid on ordinary time earnings regardless of whether you’re full-time or part-time. Part-time work reduces the dollar amount contributed but the 11.5% rate still applies.
Guides in This Section
- Super at 18
- Super at 25
- Super at 35
- Super at 40
- Super at 45
- Super at 55
- Super at 60 — Your Options Explained
- Super at 65
For advice tailored to your situation, speak with a licensed financial adviser. You can find one through the ASIC financial advisers register or MoneySmart.
The Super Gap — Where Most Australians Fall Short
APRA’s annual superannuation statistics and independent research consistently show that median super balances at retirement are well below the ASFA benchmark for a comfortable retirement ($595,000 for singles, $690,000 for couples).
The gap is larger for:
- Women: The gender super gap at retirement is approximately $50,000–$80,000, driven by lower average incomes, career breaks for parenting, and more part-time work. From 1 July 2025, PPL includes super contributions — a step toward closing this gap.
- People with interrupted work histories: Career breaks, disability, or periods of self-employment reduce the employer contribution stream.
- Low-income earners: Minimum wage earners on $47,000/year receive ~$5,400/year in super — it takes many years to accumulate meaningful balances even with strong investment returns.
Voluntary Contributions: The Most Powerful Tool
Voluntary contributions — salary sacrifice or personal deductible contributions — are the most direct way to address a super gap. Even modest additional contributions made early compound substantially.
Example: Adding $2,000/year extra from age 35
Assuming a 7% net return per year:
- At age 65 (30 years): $2,000/year × 30 years at 7% = approximately $189,000 additional balance
- The tax saving on salary sacrifice (for a 32.5% marginal rate taxpayer) effectively reduces the cost to approximately $1,340/year net
This means an additional $189,000 at retirement for a real cost of $40,200 over 30 years — the power of tax-effective compounding.
When Super Becomes Less Accessible
Note that voluntary contributions are subject to the concessional cap ($30,000/year for FY2024–25). Contributions above the cap are taxed at marginal rates. Planning voluntary contributions carefully — including using the catch-up contribution rules (which allow unused cap amounts from prior years to be contributed if your super balance is below $500,000) — maximises the benefit.