Average Super Balances by Age
Superannuation is the largest asset for Australians aside from the family home and will be the primary way for most Australians to fund retirement. In this post, we’ll take a look at the average and median super balances by age in Australia for men and women so you can see how you compare and provide some guidance on how to increase your super balance.
How Much Super Should I Have?
The Association of Superannuation Funds of Australia (ASFA) have calculated that the required balance for a comfortable retirement is $595,000 for a single person and $690,000 for a couple.
This assumes ownership of own home and no financial dependents. How much super is needed by retirement age is the balance needed to be able to draw down funds each year to fund living expenditure for the remainder of a persons life.
The balance needed at each age is an estimate of how much is needed to be on track for the final balance.
| Age | Balance for Comfortable Retirement* |
|---|---|
| 22 | $5,500 |
| 23 | $11,000 |
| 24 | $18,500 |
| 25 | $26,000 |
| 26 | $34,000 |
| 27 | $41,500 |
| 28 | $50,000 |
| 29 | $59,000 |
| 30 | $66,500 |
| 31 | $74,000 |
| 32 | $83,000 |
| 33 | $93,000 |
| 34 | $101,500 |
| 35 | $111,500 |
| 36 | $122,500 |
| 37 | $133,000 |
| 38 | $144,000 |
| 39 | $156,000 |
| 40 | $168,000 |
| 41 | $179,000 |
| 42 | $190,000 |
| 43 | $201,000 |
| 44 | $213,000 |
| 45 | $226,000 |
| 46 | $239,000 |
| 47 | $252,000 |
| 48 | $266,000 |
| 49 | $281,000 |
| 50 | $296,000 |
| 51 | $311,000 |
| 52 | $328,000 |
| 53 | $344,000 |
| 54 | $361,000 |
| 55 | $377,000 |
| 56 | $393,000 |
| 57 | $415,000 |
| 58 | $431,000 |
| 59 | $453,000 |
| 60 | $469,000 |
| 61 | $490,000 |
| 62 | $509,000 |
| 63 | $531,000 |
| 64 | $549,000 |
| 65 | $571,000 |
| 66 | $584,000 |
| 67 | $590,000 |
*This data has been sourced from ASFA’s consumer website – SuperGuru.
Median Super Balances by Age
| Age | Men | Women |
|---|---|---|
| 18-24 | $5,394 | $4,963 |
| 25-29 | $19,220 | $19,162 |
| 30-34 | $41,268 | $36,016 |
| 35-39 | $74,130 | $57,566 |
| 40-44 | $108,344 | $79,445 |
| 45-49 | $144,272 | $101,888 |
| 50-54 | $177,194 | $122,150 |
| 55-59 | $202,583 | $140,662 |
| 60-64 | $219,773 | $163,218 |
| 65-69 | $217,954 | $199,006 |
| 70-74 | $214,749 | $215,202 |
| 75+ | $185,228 | $179,928 |
The median super balance is the midpoint of all balances and usually provides a better indication of the typical balance of Australians. According to the ATO’s taxation statistics, as of the 30th of June 2023, the median super balance for those aged 25-29 was $19,220
for men – about a 10% increase on 2022 and $19,162
for women, also about a 10% increase on 2022’s figures. At this age there’s not a significant gender pay gap. From there, balances increase in favour of men although the gap has narrowed compared to previous years.
By ages 50-54 balances were $177,194
for men and $122,150
for women, this is where the gap peaks at approximately 45%, slightly less than last years 46% gap.
Balances peak at ages 65-69 at $219,773 for men and 70-74 for women at $215,202, largely narrowing the gap.
Please note:
As of the 1st of July 2025, the latest available data for median and average super balances by age is the 30th of June 2023. This is because the Australian Tax Office data release is approximately 2 years after the reporting date.
Average Super Balances by Age
| Age | Men | Women |
|---|---|---|
| 18-24 | $9,062 | $8,163 |
| 25-29 | $27,021 | $24,821 |
| 30-34 | $55,690 | $46,586 |
| 35-39 | $96,122 | $76,020 |
| 40-44 | $140,680 | $109,209 |
| 45-49 | $193,501 | $147,146 |
| 50-54 | $254,071 | $190,175 |
| 55-59 | $319,743 | $242,945 |
| 60-64 | $395,852 | $313,360 |
| 65-69 | $448,518 | $392,274 |
| 70-74 | $501,785 | $449,540 |
| 75+ | $525,627 | $454,333 |
The average super balance is the sum of all balances divided by the number of people and may be skewed by a small number of large balances. According to the ATO’s super statistics, the average super balance for those aged 25-29 was $27,021
for men and $24,821
for women as of June 30th 2023. Balances increased to $254,071
for men and $190,175
for women for those aged between 50-54, and peak at $525,627
for men and $454,333
for women. The difference between men and women persists across all age groups, with the gap being widest in percentage terms around the middle age before reducing somewhat to retirement age.
Please note:
As of the of July 2025, the latest available data for median and average super balances by age is the 30th of June 2023. This is because the Australian Tax Office data release is approximately 2 years after the reporting date.
Average and Median Super Balance by Age 30
For those aged 30-34, the median super balance was $41,268
for men and $36,016
for women, while the average balance was $55,690
for men and $46,586
for women. The difference between the median and average suggests that even at a relatively young age a small number of individuals have much higher super balances, skewing the average.
Average and Median Super Balance by Age 40
For those aged 40-44, the median super balance was $108,344
for men and $79,445
for women, while the average balance was $140,680
for men and $109,209
for women. The gender gap increases in the 30’s particularly the average, indicating again that the average is skewed by some individuals with high balances.
Average and Median Super Balance by Age 50
For those aged 50-54, the median super balance was $177,194
for men and $122,150
for women, while the average balance was $254,071
for men and $190,175
for women. The gender gap peaks in the 50’s before decreasing to retirement age.
Average and Median Super Balance by Age 60
For those aged 60-64, the median super balance was $219,773
for men and $163,218
for women, while the average balance was $395,852
for men and $313,360
for women. The gender gap reduces significantly in the 60’s whilst the difference between the median and the average continues to hold, with a small number of individuals that have much higher super balances, skewing the average.
How To Increase Your Super
Increasing your superannuation can be achieved by taking a few key steps. Firstly, it’s important to regularly review your super fund to ensure its performance and fees are competitive in comparison to other options in the market. This can be done by comparing the returns, fees, and insurance offered by different funds. Compare super funds by fees and performance and compare your fund against the best super funds. If you find a better option, consider switching to a more suitable fund. Secondly, making additional contributions to your super can significantly increase your balance over time. You can do this by making personal contributions, salary sacrificing, making spouse contributions, or taking advantage of government co-contributions if you’re eligible. Lastly and perhaps most importantly, seeking advice from a financial advisor can be highly beneficial in helping you make informed decisions about your super. They can help you with all of the above, help determine the best strategies for you, and ensure you are on track to achieve your retirement goals.
Please Note: Any advice on this page is general in nature and does not take into account your objectives, financial situation or needs. Consider whether this is right for you. See full disclaimer.