By Philippa Billings, Chief Advice Officer, Otivo
On track is a comforting phrase that means nothing without a destination. On track to where? Being on track for retirement is really two questions stacked together, what you're aiming at, and whether your current path gets you there in time. Most people can answer neither off the top of their head, which is exactly why the question nags. Here's how to actually check.
Being on track for retirement means your projected super and other savings are heading towards the income you'll want, in the timeframe you have. There's no universal benchmark, but ASFA's comfortable retirement targets of about $630,000 for a single and $730,000 for a couple at age 67, as at July 2026, are a common reference point to measure against.
What does being on track actually mean?
It means two things line up, your target and your trajectory. The target is the amount that would fund the retirement income you want. The trajectory is where your current balance, contributions and remaining working years are actually heading. Being on track is simply those two meeting. Plenty of people focus only on the first number, the scary target, without ever checking the second, which is why the question feels unanswerable. Put them side by side and it becomes a straightforward comparison.
How do you work out your retirement target?
Start with the income you'll want, then work back to the savings that produce it. ASFA's comfortable standard is a useful anchor, around $54,840 a year for a single and $77,375 for a couple, funded by lump sums of roughly $630,000 and $730,000 at age 67 alongside a part Age Pension. If your own spending plans are higher or lower than comfortable, your target shifts accordingly. The point is to land on a number that reflects your life, not a generic figure.
How do you project where your super is heading?
This is the trajectory half, and it takes more than a glance at your current balance. A projection combines what you have now, what's going in through contributions, the returns your option is likely to earn, and the years left before you retire. That's genuinely hard to do in your head, which is where modelling tools earn their keep. For someone like a 52-year-old on $105,000 with $310,000 in super, a projection turns a vague worry into a concrete figure they can act on.
What if there's a gap?
A gap between where you're heading and where you want to be is common, and it's workable. The levers are familiar, adding voluntary contributions within the caps, trimming fees and duplicate accounts, reviewing whether your investment option suits your timeframe, and in some cases working a little longer. Which combination suits any individual depends on their circumstances. The value of checking early is that a gap spotted at 50 has far more time to close than the same gap noticed at 64.
How often should you check?
A yearly look is a reasonable rhythm for most people, with an extra check whenever something significant changes, a pay rise, a career break, an inheritance, or a shift in when you plan to retire. Retirement planning isn't a one-off calculation, it's a number that moves as your life does, so a periodic glance keeps it honest.
Frequently asked questions
How do I know if I have enough super for my age?
Comparing your balance to age benchmarks gives a rough gauge, but a projection based on your own contributions and retirement age tells you far more. Balance-by-age averages describe the crowd, not your particular trajectory.
Can I still catch up if I'm behind?
Usually, yes. Several levers can close a gap, including voluntary contributions, carry-forward for those eligible, lower fees and a suitable investment option, and time still helps even in your fifties and sixties.
What's the best way to check if I'm on track?
A projection built from your own numbers, your balance, contributions, expected returns and timeframe. Otivo's retirement planning module is designed to do exactly that and show what could improve the outcome.
Where to from here
The nagging feeling usually comes from not having checked, not from the answer itself. 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 shift it, based on your age, income, balance, other investments and goals. It replaces the worry with a number.
Sources
- Association of Superannuation Funds of Australia — ASFA Retirement Standard, March 2026 update — superannuation.asn.au
- ASIC MoneySmart — retirement planning and are you on track — 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.