How Much Super Should You Have by Age? — Australian Guide
Most Australians are behind ASFA retirement benchmarks — and that's okay, but it's worth knowing the gap. Here's what you should have, what the median Australian actually has, and how to close the difference.
ASFA Recommended vs. Actual Median Super Balance
All figures in Australian dollars. ASFA = Association of Superannuation Funds of Australia. ABS = Australian Bureau of Statistics Household Income and Wealth Survey 2021-22.
| Age | ASFA Recommended | Median Actual (ABS) | Gap |
|---|---|---|---|
| 30 | $68,000 | $28,000 | −$40,000 |
| 35 | $112,000 | $65,000 | −$47,000 |
| 40 | $168,000 | $112,000 | −$56,000 |
| 45 | $215,000 | $168,000 | −$47,000 |
| 50 | $268,000 | $215,000 | −$53,000 |
| 55 | $312,000 | $258,000 | −$54,000 |
Sources: ASFA Retirement Standard benchmarks (updated quarterly). ABS Household Income and Wealth Survey 2021-22 (cat. no. 6523.0). ASFA benchmarks assume a retirement age of 67 and are modelled on a "comfortable" retirement lifestyle for a single person. Figures rounded to nearest $1,000.
Why Most Australians Are Behind
The consistent $40,000–$56,000 gap between ASFA benchmarks and median actual balances reflects structural realities of the Australian super system — not personal failure. Compulsory superannuation only reached 9% in 2002 and has only recently climbed toward 12%. Many Australians in their 40s and 50s spent their early career years contributing at rates of 3–5%, creating a deficit that's hard to recover even with compound growth.
Career interruptions — particularly for women — compound the problem significantly. Parental leave, part-time work, and caring responsibilities create years with reduced or no super contributions. The ABS data shows women's super balances are consistently 20–30% lower than men's at equivalent ages. The gap also partly reflects the 1.5 million Australians who withdrew super during COVID-19 under the early release scheme.
The good news: the gap is manageable, especially below age 45. A $50,000 deficit at age 35 becomes substantially less significant with 30 years of compound growth ahead. The most effective lever is voluntary concessional contributions — which are taxed at 15% rather than your marginal rate — combined with consolidating any multiple super accounts to eliminate duplicate fees.
Four Ways to Close the Super Gap
Make concessional contributions Add pre-tax money to super up to the $30,000 annual cap. Taxed at 15% rather than your marginal rate — a meaningful saving if you earn over $45,000.
Use catch-up contributions If your balance is under $500,000, you can carry forward unused cap room from the past 5 years and make larger contributions in a single year.
Consolidate your super Multiple super accounts mean multiple sets of fees and insurance premiums. Find and merge them via MyGov. Even $5/week in saved fees compounds significantly over 20 years.
Check your investment option Most funds default members to a conservative or balanced option. Australians under 50 often benefit from being in a high-growth option — higher short-term volatility, but meaningfully better returns over 20–30 years.
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Looking for full net worth benchmarks by age? See our Australian net worth data from the ABS.
This page provides educational information only and does not constitute financial advice. ASFA benchmarks are guidelines, not guaranteed retirement outcomes. Speak to a licensed financial adviser for personalised super advice. © 2026 My Financial Position.