At 45, you’re roughly in the middle of your working life, and superannuation is increasingly on the radar. You typically have 15–20 years until you can access super (preservation age 60), which is enough time to make meaningful improvements — but not so much that you can delay action indefinitely.
Key Takeaways
- Median Australian super balance at 45–49 is approximately $110,000–$145,000
- Your 40s are peak years for salary sacrifice — you are likely in the 37% or 45% tax bracket, maximising the benefit
- The concessional cap of $30,000 allows meaningful contributions beyond employer SG
- Catch-up contributions become available if your balance is under $500,000 — use accumulated unused cap space
- Begin modelling your retirement income — tools like ASIC’s MoneySmart retirement planner can help estimate what you need
Average and Target Super Balance at 45
APRA data for Australians aged 45–49:
| Median | Rough on-track target (for comfortable retirement) | |
|---|---|---|
| All Australians 45–49 | ~$115,000–$140,000 | ~$200,000–$280,000 |
The ASFA Comfortable Retirement Standard requires approximately $595,000 (singles) to $690,000 (couples) at retirement (2025). Working backward at 7% p.a., to reach $595,000 in 20 years from a balance of $200,000, you’d need additional contributions — employer SG alone on a median income typically isn’t enough.
Why 45 Is a High-Impact Window
At 45, you have:
- Typically your highest earning years ahead — income usually peaks in the 45–55 age bracket
- The 37% marginal tax rate — salary sacrifice saves significant tax
- Carry-forward contributions — if TSB < $500,000 and you’ve had career gaps or lower contribution years, you can catch up
- Roughly 15–20 years of compounding remaining — enough for compounding to still matter significantly
A $50,000 extra contribution at 45 at 7% p.a. over 20 years grows to approximately $193,000 by 65. That’s the power that’s still available.
Key Strategies at 45
1. Maximise salary sacrifice
At income above $120,000, the marginal rate is 37%. Salary sacrificing $20,000/year saves:
- $20,000 × (37% + 2% Medicare − 15%) = $4,800/year in tax
Check how much headroom you have within the $30,000 concessional cap (minus what your employer already contributes).
2. Use carry-forward contributions aggressively
If your TSB is under $500,000, you can access unused concessional cap from the past 5 financial years. This allows contributions well above the standard $30,000 cap in high-income years.
3. Check your investment option
At 45, you may have 15+ years to preservation age. Many financial planners suggest this still supports a growth-oriented portfolio — though this involves accepting more volatility. Review whether your current option is appropriate.
4. Address the gender gap if applicable
Women at 45 typically have median balances around $90,000–$110,000 — lower than men due to career gaps and historically lower wages. Strategies including spouse contributions, carry-forward contributions, and salary sacrifice are particularly valuable. See Super for Women.
5. Review fees and performance
At 45, a high-fee fund has 20 years to erode your balance. Even 0.5% lower fees compounding over 20 years can add $30,000–$50,000 to a typical balance. Use the fee impact calculator to model the difference.
Super at 45 and Property
Many Australians at 45 are focused on paying down a mortgage and building property equity. The comparison between extra mortgage repayments and extra super contributions becomes more nuanced at this age:
- Mortgage interest is typically 5.5–6.5% (post-tax cost)
- Super contributions benefit from a 15% tax rate on earnings inside the fund
- At a 37% marginal rate, salary sacrifice effectively earns an immediate 24% return before investment returns
See Super vs Property.
Frequently Asked Questions
Is $150,000 in super at 45 enough? It’s close to the median, but likely below what’s needed for a comfortable retirement without additional contributions. Modelling on the super calculator using current balance, salary, and retirement age gives a personalised projection.
Can I still retire at 60 if I haven’t saved enough by 45? A 15-year window is meaningful — consistent salary sacrifice through the 45–60 period can substantially boost a balance. Whether it’s enough for your retirement income target depends on your specific goals and spending needs.
Should I be worried if I have $80,000 at 45? It’s below the median but not unusual given career interruptions or varied work history. Focusing on maximising contributions from now is more productive than dwelling on the past.
For more: Carry-Forward Contributions, Salary Sacrifice Super, Super at 40. For advice on your retirement projections, speak with a licensed financial adviser via MoneySmart.