By Paul Feeney, Founder and Chief Executive Officer, Otivo
The average 45-year-old Australian has about $159,000 in super. The word average is doing a lot of work in that sentence, though, because a handful of very large balances pull it well above what most people actually hold. So the real question isn't only what's typical for your age, but how far typical sits from what a comfortable retirement costs. Here's what the numbers say, and how to read them without alarm.
Quick answer
There's no official target, but benchmarks help. Based on ATO and ASFA data, average super balances sit at roughly $24,000 at age 25, $81,000 at 35, $159,000 at 45 and $265,000 at 55. As at July 2026, ASFA estimates a single person needs about $630,000 by age 67 for a comfortable retirement.
What is the average super balance by age in Australia?
Average super balances rise steadily with age as contributions accumulate and returns compound. Drawing on ATO and ASFA data, the combined average sits at around $24,000 at age 25, $81,000 at 35, $159,000 at 45, $265,000 at 55 and $420,000 at 65. These are averages across everyone in each age band, so they work as a rough gauge rather than a personal target. Balances typically peak in the early sixties and then start to fall as people retire and begin drawing down.
How much super do you actually need to retire?
The most widely used benchmark comes from the ASFA Retirement Standard. As at its March 2026 update, ASFA estimates a single homeowner needs about $630,000 at age 67 for a comfortable retirement, and a couple about $730,000. Comfortable here means roughly $54,840 a year in spending for a single person and $77,375 for a couple, covering private health cover, a reliable car, home maintenance and the occasional trip. The figures assume you own your home outright and draw a part Age Pension alongside your super.
Why is the median so much lower than the average?
This is the part most balance-by-age tables skip. Averages are pulled upward by a relatively small number of very high balances, so they overstate what a typical person holds. The median, the midpoint where half of people have more and half have less, tells a plainer story. Across all Australians the median super balance is only around $60,000, and even approaching retirement the median sits well below the ASFA comfortable target. Read three numbers together and the picture sharpens, the average for your age, the median behind it, and the target you're aiming at. If your balance looks low against the average, it's worth remembering that more than half the country is in the same position.
What can you focus on if you're behind the benchmark?
Falling short of a benchmark isn't unusual, and there are several levers many Australians use to close the gap. Adding voluntary contributions within the concessional cap of $32,500 for 2026-27 is one, since money going in before tax is generally taxed at just 15%. Very high earners pay an extra 15% on concessional contributions above a $250,000 combined-income threshold under Division 293, though those contributions still remain concessionally taxed. Keeping fees down and avoiding duplicate accounts is another lever. For someone like a 40-year-old on $95,000 with a decade or two still to run, time and compounding remain powerful, and even modest regular contributions can make a meaningful difference to a final balance. What suits any individual depends on their circumstances, which is where modelling your own position helps.
Frequently asked questions
Is there an official amount of super I should have by a certain age?
No. There's no government-set target for how much super you should hold at a given age. Benchmarks from ASFA and average balances from the ATO are useful reference points, but they're guides rather than rules.
Does the average super balance include people who have already retired?
The age-band averages include everyone in that bracket who holds super, and balances typically peak in the early sixties before declining as retirees draw down. That's why the figures from 65 onwards can look lower than the late-fifties trajectory might suggest.
Do men and women have different average super balances?
Yes, and the gap is significant. Recent analysis puts the gender super gap for Australians approaching retirement at around 26%, driven by lower average earnings, more career breaks and higher rates of part-time work.
How can I tell if I'm on track for retirement?
Comparing your balance to an age benchmark is a start, but a projection based on your own income, contributions and retirement age gives a clearer answer. Otivo's retirement planning module is built for exactly that.
Where to from here
Averages and benchmarks are a useful mirror, but they can't tell you about your own retirement. Otivo, a licensed Australian financial advice platform holding AFSL and Australian Credit Licence No. 485665, offers a retirement planning module that projects where your current path leads and what could improve it, based on your age, income, balance and goals. It turns a national average into a number that's actually about you.
Sources
- Australian Taxation Office — Taxation Statistics, superannuation account balances — ato.gov.au
- Association of Superannuation Funds of Australia — ASFA Retirement Standard, March 2026 update — superannuation.asn.au
- ASIC MoneySmart — how much super you need — moneysmart.gov.au
Disclaimer
The information in this communication is current as at July 2026 and has been prepared by Otivo Pty Ltd ABN 47 602 457 732, AFSL and Australian Credit Licence No. 485665. This content is general information only and has been prepared without taking into account your objectives, financial situation or needs. It is not personal financial or taxation advice and should not be relied on as such. Before acting on any information, you should consider its appropriateness having regard to your personal circumstances. This material must not be reproduced in whole or in part, or posted on any social media platform, without the prior written consent of Otivo Pty Ltd.